- Oops!Something went wrong.Please try again later.
The company expects to close the transaction in the fourth quarter of 2021.
Naples Boat Mart, owned by Philip Osborne, represents boating brands including Grady White, Hurricane, and Key West.
Naples Boat Mart also offers factory-trained technicians to deliver service for its customers, including a full rigging shop and mobile service units. It has raked in about $30 million in sales over the past twelve months from these offerings.
"This acquisition enhances our overall presence on Florida's West Coast and complements our recent acquisition of Walker Marine Group," said OneWater CEO Austin Singleton.
OneWater held .5 million in cash and equivalents, including restricted cash, as of March 31, 2021.
Price action: ONEW shares are trading higher by 10.2% at $44.92 on the last check Tuesday.
See more from Benzinga
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.