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OneWater Marine Shares Gain On Deal To Buy Naples Boat Mart For Undisclosed Sum

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  • ONEW
  • OneWater Marine Inc (NASDAQ: ONEW) has agreed to acquire the assets of Naples Boat Mart to expand its presence on the West Coast of Florida for an undisclosed sum.

  • 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.

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