Business
OneWater Marine Inc. Completes the Acquisition of T-H Marine
Significantly enhances presence in parts and accessories, further diversifies revenue streams BUFORD, Ga., Dec. 02, 2021 (GLOBE NEWSWIRE) -- OneWater Marine
About this update from Onewater Marine Inc.
[{"type":"text","content":"Significantly enhances presence in parts and accessories, further diversifies revenue streams\nBUFORD, Ga., Dec. 02, 2021 (GLOBE NEWSWIRE) -- OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or the “Company”) announced today that it has completed the previously announced acquisition of T-H Marine, a leading provider of branded marine parts and accessories. OneWater expects that the acquisition will significantly expand the Company’s presence in the parts and accessories sector. The transaction is expected to more than double the annual revenue of OneWater’s current business in the space. “We couldn’t be more excited to welcome Jeff Huntley Sr. and his team into the OneWater family. This transaction meaningfully advances OneWater’s strategic growth and diversification strategy and is expected to materially expand our addressable market in the parts and accessories business. T-H Marine will serve as an additional platform for growth with its strong pipeline in both product development and its own acquisition strategy, led by an experienced and capable team. With T-H Marine, we can now provide a more complete offering to our customers while continuing to drive growth and unlocking value for our shareholders,” said Austin Singleton, Chief Executive Officer for OneWater. About OneWater Marine Inc. OneWater Marine Inc. is one of the largest and fastest-growing premium recreational boat retailers in the United States. OneWater operates 71 stores throughout 11 different states, eight of which are in the top twenty states for marine retail expenditures. OneWater offers a broad range of products and services and has diversified revenue streams, which include the sale of new and pre-owned boats, parts and accessories, finance and insurance products, maintenance and repair services and ancillary services such as boat storage. Investor or Media Contact:Jack EzzellChief Financial [email protected] Cautionary Statement Concerning Forward-Looking Statements This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including regarding our strategy, future operations, financial position, prospects, plans and objectives of management, growth rate and its expectations regarding future revenue, operating income or loss or earnings or loss per share. In some cases...