T-H Marine announces acquisition of JIF Marine LLC

OneWater Marine Inc. updates on its business operations © OneWater Marine Inc

OneWater Marine Inc. (NASDAQ: ONEW) ("OneWater" or "the Company") announced today that its subsidiary, T-H Marine, has acquired JIF Marine LLC ("JIF"), an industry-leading supplier of stainless steel ladders, dock products, and other accessories for recreational marine applications based in Memphis, Tennessee.

"JIF Marine has a strong reputation for service, value, and selection, and we couldn't be more excited to bring them onboard. This will be our first, of hopefully many acquisitions, since joining the OneWater team, which we believe creates an additional springboard for long-term growth," said Jeff Huntley Sr., Chief Executive Officer for T-H Marine. "T-H Marine has the opportunity to fold in great companies to further enhance our business utilizing our blueprint for acquisitions. We look forward to expanding JIF's renowned product lines to reach more customers, leveraging our omni-channel strategy and the combined resources of T-H Marine and OneWater."

JIF Marine, a third-generation family-owned business, is a category leader in stainless steel ladders and dock products, among other marine accessories to major boat manufacturers, distributors, and big box stores. JIF will continue to operate as a standalone division of T-H Marine at its current Memphis facility.

"The OneWater family looks forward to welcoming Jimmy Freudenberg and the JIF Marine team as we continue to grow the higher margin marine parts and accessories business. T-H Marine made a great fit for us back in November, as their history of accretive acquisitions aligns well with OneWater's business model and growth strategy. We were very optimistic about the additional platform for growth with T-H Marine having its own acquisition pipeline, and we are seeing the benefits materialize with the first opportunity of many in JIF Marine," said Austin Singleton, Chief Executive Officer for OneWater.