Business
OneWater Marine Enters into a Definitive Agreement to Acquire a Majority Interest in Quality Boats
Acquisition cements the Company’s presence on west coast of Florida Transaction Highlights: Together with OneWater’s previous acquisitions, OneWater will
About this update from Onewater Marine Inc.
[{"type":"text","content":"Acquisition cements the Company’s presence on west coast of Florida\nTransaction Highlights: Together with OneWater’s previous acquisitions, OneWater will expand market share on Florida’s west coast, currently one of the most attractive boating markets in the countryAdvances OneWater’s growth strategy and creates significant opportunity to introduce additional offerings to Quality Boat’s large and growing customer baseProjected full calendar year 2021 sales of approximately $140 million and EBITDA1 of $20 millionExpected to be immediately accretive to top-line growth, operating margin and earnings per share BUFORD, Ga., Dec. 15, 2021 (GLOBE NEWSWIRE) -- OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or “the Company”) announced today that it has entered into a definitive agreement to acquire a majority interest, in Quality Boats. The transaction will expand the Company’s presence on the west coast of Florida and enhances new and pre-owned boat sales and parts and services offerings. For the full calendar year 2021, Quality Boats is expected to generate approximately $140 million in sales and $20 million in EBITDA1. The transaction is expected to be immediately accretive to OneWater. “We could not be more excited to welcome the Quality Boats team into the OneWater family. Their significant presence in one of the hottest boating markets in the US and commitment to quality are just a few of the reasons why Quality Boats is an award-winning dealership group and a fantastic fit for the OneWater family,” said Austin Singleton, Chief Executive Officer for OneWater. “I am personally thrilled to welcome my long-time friends, Dave and Dan Bair, to the OneWater team, and look forward to the exciting future of our company.” “Growing up in Clearwater, FL, I have always seen Quality Boats as a well respected and fierce competitor in the market place,” said Anthony Aisquith, Chief Operating Officer of OneWater. “Their reputation for taking care of customers by their well trained sales and service teams is second to none. Dave and Dan Bair are fantastic operators, and are very highly regarded as leaders within the marine industry. I am excited to be working with long-time friends and eager to see the possibilities that our combined operations will generate in the future.” Quality Boats’ many accolades include the National Marine Manufacturers A...