Boating giant splashes into superyacht industry with $480M purchase

Boating giant MarineMax has acquired Global Yachting LLC, a marina and yacht management business with a global network of 23 curated marinas in the Americas, the Caribbean and Europe.

Clearwater-based MarineMax, one of the largest recreational boat and yacht retailers in the industry, paid $480 million for the New York-based company, according to a statement. Global Yachting owns and operates a collection of “iconic marina assets and a yacht management platform in key global yachting destinations,” the release adds. The deal includes additional potential earn-out of up to $100 million two years after closing, subject to the achievement of defined performance metrics. MarineMax officials expect the acquisition to close in the first half of fiscal year 2023.