OneWater Marine Inc. signs definitive agreement to acquire Harbor View Marine

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 signed a definitive agreement to acquire Harbor View Marine, one of the Gulf Coast's largest locally owned dealerships. The acquisition will further expand the Company's footprint on the Gulf Coast and is expected to enhance new and pre-owned boat sales, finance, and parts and services offerings. The transaction is expected to close in the first quarter of fiscal 2023.

"Harbor View Marine brings aboard a suite of iconic brands and a loyal, local following. These characteristics are quintessential for portfolio expansion at OneWater," said Austin Singleton, Chief Executive Officer for OneWater. "OneWater's focus on strategic growth remains steadfast and parallels our customers' desire to explore new products and brands. With a well-respected name in the region and a one-stop-shop suite of offerings, Harbor View will be a natural fit with the OneWater family."

Harbor View Marine is a family-owned and operated business with an on-water marina in Pensacola, FL and roadside location in Orange Beach, AL, offering leading brands such as NauticStar, Jeanneau, G3, and Bayliner. In addition to new and used boat sales, Harbor View Marine offers service and repair from certified technicians, parts and accessories, hi/dry boat storage, and a boat club to Gulf Coast boaters. Harbor View Marine generated approximately $21 million in sales over the past twelve months.

Darrell Robinson, co-owner of Harbor View Marine, said, "We pride ourselves on our rock-solid reputation and providing excellent service, support and satisfaction with a staff that understands all aspects of the business. We look forward to working with OneWater and continuing that legacy."