MarineMax the acquisition of Intrepid Powerboats

Intrepid Powerboats © Intrepid Powerboats

MarineMax, Inc. (NYSE: HZO), the world's largest recreational boat and yacht retailer, has announced that it has completed the acquisition of Intrepid Powerboats (Intrepid), a premier manufacturer of powerboats.

Intrepid Powerboats is recognized as a world class producer of customized boats, carefully reflecting the unique desires of each individual owner. Intrepid follows a direct-to-consumer distribution model and has received many awards and accolades for its innovations and high-quality craftsmanship that create industry leading products in their categories. Intrepid produced revenue in excess of $60 million during the last twelve-months.

W. Brett McGill, Chief Executive Officer and President of MarineMax, stated, "We are excited to add Intrepid Powerboats to the growing list of strategic acquisitions we have completed. Providing Intrepid with additional resources to enhance how it serves its loyal customer base, while leveraging our digital technologies and capital, will allow it to continue to innovate and grow. We are happy that Ken Clinton and the Intrepid management team have joined our family and will continue to operate the business."

Raymond James Investment Banking Marine Team was the advisor for Intrepid Powerboats.