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Clearwater's MarineMax buys UK manufacturer's US distributor


  • By Louis Llovio
  • | 10:30 a.m. January 9, 2024
  • | 2 Free Articles Remaining!
Boat and yacht dealer MarineMax is based in Clearwater.
Boat and yacht dealer MarineMax is based in Clearwater.
Courtesy image
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Clearwater-based boat and yacht dealer MarineMax has reached a deal to buy a Pompano Beach company for an undisclosed amount.

The company being bought is Williams Tenders USA.

Williams Tenders, according to a new release, is a distributor and retailer for U.K.-based Williams Jet Tenders Ltd., a manufacturer of rigid inflatable jet tenders for the luxury yacht market. Tenders are the boats that runs back and forth from a larger yacht or ship.

The company, which was founded in 2005, sells its tenders in the U.S. and the Caribbean through its own showrooms and a network of 20 dealers. It established the U.S. operation in 2014 with headquarters in Pompano Beach.

In the news release MarineMax says the deal will close by March 31.

Brett McGill, MarineMax’s president and CEO, says in the release that Williams Tenders “complements our product and service offerings.”

MarineMax CEO Brett McGill.
Courtesy image

“This transaction aligns with a key element of our growth strategy of acquiring high-quality businesses that expand our unique portfolio of assets, strengthen our margin profile, and deepen our relationships with customers across the recreational marine ecosystem,” he says.

The company reported in October that its fourth quarter revenue rose 10.8% from the same period the previous year to $594.6 million.

The purchase is the second in recent months for MarineMax. In October it bought a controlling interest in Atalanta Golden Yachts charter management agency based in Athens, Greece.

In the earning statement, McGill says that purchase shows how “we continue to actively expand our global market presence.”

MarineMax retails recreational boats and yachts and offers yacht concierge and superyacht services. It has 130 locations worldwide, including 81 dealerships and 66 marina and storage facilities.

Along with those locations, the company also offers financing and insurance services and operates MarineMax Vacations in the Virgin Islands.

 

author

Louis Llovio

Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.

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