MarineMax closes IGY Marinas deal
October 20, 2022 - Clearwater-based MarineMax Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, has completed the previously announced acquisition of Island Global Yachting LLC (“IGY Marinas”), as of Oct. 1. The acquisitioned entailed $480 million in cash, with an additional potential earnout of up to $100 million two years after closing, according to previous MarineMax announcement. Island Global Yachting LLC owns and operates a collection of iconic marina assets and a yacht management platform in key global yachting destinations. The acquisition expands MarineMax’s portfolio of marinas and creates cross-sell opportunities with its Fraser Yachts and Northrop and Johnson superyacht services businesses, according to a news release. Tom Mukamal, CEO of IGY Marinas and the IGY Marinas management team, will continue to lead the growth and operations of the IGY business.