MarineMax Acquires Pioneering Digital Platform
CLEARWATER, Fla.--(BUSINESS WIRE)--Mar 17, 2020--
MarineMax, Inc. (NYSE: HZO), the nation’s largest recreational boat and yacht retailer, today announced that it has acquired Boatyard, a pioneering on-demand digital platform, to enhance the experience of boating. Through this disruptive technology acquisition, MarineMax seeks to transform the boating experience, saving time and creating a whole new way for boat owners to enjoy their passion. The new MarineMax Customer Experience Platform will be led by Boatyard Founder and CEO Nathan Heber, who will become President of Boatyard at MarineMax.
W. Brett McGill, Chief Executive Officer and President of MarineMax, Inc., stated, “As MarineMax continues to leverage its investments in technology, the addition of Boatyard will be a key focus for the organization. We believe this digital platform can become an accelerator in MarineMax’s evolving strategy to enhance and further transform the boating experience. I look forward to Nathan and his team building on our digital experience for our customers, and to continue bringing innovative solutions to our industry.”
“The leadership Nathan and his team bring, along with their tremendous passion to enrich the boating experience through technology, will further enhance MarineMax’s exceptional engagement with boat owners. There is significant pent-up demand for the types of solutions Boatyard brings to this industry and that make the boat ownership experience easier and more accessible,” concluded Mr. McGill.
“I have long admired the MarineMax commitment to innovation to transform the boat industry and make it more accessible and efficient. I am thrilled to be joining the MarineMax team and to leverage their industry leadership and resources to enable us to build upon our product capabilities,” commented President of Boatyard Nathan Heber.
Boatyard will remain an independent brand while also continuing to enhance the digital boating experience for MarineMax customers . Terms of the transaction were not disclosed.
The disruptive Boatyard digital platform seeks to eliminate the confusion, guesswork and stress of boating, making it accessible and easy for customers to have an exceptional experience. The Boatyard digital platform will include an expansive range of on-demand services to streamline the boating experience by qualified service providers with only a few clicks on a smartphone. Named to Boating Industry Magazine’s “Top Products of 2015” list, the Boatyard digital platform enables boat owners to take back their free time by curating the best services and offering excellent communication to ensure users always receive an exceptional experience.
Headquartered in Clearwater, Florida, MarineMax is the nation’s largest recreational boat and yacht retailer. Focused on premium brands, such as Sea Ray, Boston Whaler, Hatteras, Azimut Yachts, Benetti, Ocean Alexander, Galeon, Grady-White, Harris, Bennington, Crest, MasterCraft, MJM Yachts, NauticStar, Scout, Sailfish, Scarab Jet Boats, Tige, Yamaha Jet Boats, Aquila, Aviara and Nautique. MarineMax sells new and used recreational boats and related marine products and services, as well as provides yacht brokerage and charter services. MarineMax also owns Fraser Yachts Group, a leading superyacht brokerage and luxury yacht services company with operations in multiple countries. MarineMax currently has 59 retail locations in Alabama, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina and Texas, and operates MarineMax Vacations in Tortola, British Virgin Islands. MarineMax is a New York Stock Exchange-listed company. For more information, please visit www.marinemax.com.
Forward Looking Statement
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include the Company’s transformation of the boating experience; the digital platform’s ability to be disruptive; the leadership of the MarineMax Customer Experience Platform; the organization’s focus on Boatyard; the digital platform becoming an accelerator in the Company’s evolving strategy to enhance the boating experience; the innovative solutions to the boating industry; the further transformation of the Company’s exceptional engagement with boat owners; Boatyard remaining an independent brand; Boatyard continuing to enhance the digital boating experience for the Company’s customers; and the digital platform’s inclusion of an expansive range of on-demand services to streamline the boating experience by qualified service providers with only a few clicks on a smartphone. These statements are based on current expectations, forecasts, risks, uncertainties and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, assumptions and uncertainties include the Company’s abilities to reduce inventory, manage expenses and accomplish its goals and strategies, the quality of the new product offerings from the Company’s manufacturing partners, general economic conditions, as well as those within our industry, the level of consumer spending, the Company’s ability to integrate acquisitions into existing operations, the continued recovery of the industry, and numerous other factors identified in the Company’s Form 10-K for the fiscal year ended September 30, 2019 and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Michael H. McLamb
Chief Financial Officer
KEYWORD: FLORIDA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: SPORTS LUXURY RETAIL YACHTING SPECIALTY
SOURCE: MarineMax, Inc.
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PUB: 03/17/2020 08:00 AM/DISC: 03/17/2020 08:01 AM