OneWater Marine Inc. completes acquisition of Walker Marine Group
by OneWater Marine 5 Jan 2021 08:37 PST
OneWater Marine Inc. updates on its business operations © OneWater Marine Inc
OneWater Marine Inc. (NASDAQ: ONEW) ("OneWater" or "the Company") announced today that it has completed the acquisition of Walker Marine Group, marking the largest acquisition in the Company's history, further expanding its presence in Florida.
Walker Marine Group has five locations in southwest Florida to serve its established and growing customer base with new and pre-owned boat sales, quality service and parts, as well as finance and insurance services. In addition, Walker Marine Group is an authorized dealer for many premier brands, including Pursuit, Tiara Yachts, Tiara Sport, Regal, Chris Craft, Hewes, Cobia, Maverick, Pathfinder, SeaHunt and Yamaha Boats. Walker Marine Group generated revenues in excess of $80 million over the past twelve months.
"In-line with our acquisition strategy, we continue to aggressively pursue market-leading dealerships to fold into the OneWater family, which is exemplified by the addition of Walker Marine Group. The Walker Marine Group is an established and highly regarded dealership group that further enhances our presence in the important southwest Florida boating market," said Austin Singleton, Chief Executive Officer of OneWater Marine. "We have a strong track record of utilizing our scale and integration techniques to collaboratively drive operational synergies and expanded margins. The acquisition of Walker Marine is our largest transaction to date and reinforces our commitment to doubling down on strategic growth and maximizing value for our stockholders."
Jim Walker, owner of Walker Marine Group, said, "We are excited to be joining OneWater's preeminent network of dealerships and working together to drive the business forward and maximize growth and profitability. Walker Marine has a long history, deep customer relationships, extremely qualified team members and prestigious brands, which will be further enhanced by OneWater's digital platform and best practices."