MarineMax invests in marine development company, acquires Midcoast Construction Enterprises
by MarineMax 6 Dec 2022 08:59 PST
Midcoast Construction Enterprises, LLC (`Midcoast Marine Group`) © MarineMax
MarineMax, Inc. (NYSE: HZO), the world's largest recreational boat and yacht retailer, today announced the acquisition of Midcoast Construction Enterprises, LLC ("Midcoast Marine Group"), a leading full-service marine construction company based on Central Florida's Gulf Coast.
"Midcoast Marine Group complements our growing marina portfolio and adds a valuable skillset to our expanding service offerings," stated W. Brett McGill, Chief Executive Officer and President of MarineMax. "Adding Midcoast Marine Group to the MarineMax family gives us the team and assets to cost-effectively manage our marina construction needs and market these services to third parties. We continue to successfully execute on our strategy to acquire well-managed, high-performing, and complementary businesses."
Midcoast Marine Group CEO Jack Fulford, who founded the company in 2012, will continue to run the business. Equipped with a fleet of barges, cranes, and vessels, Midcoast Marine Group specializes in heavy civil marine construction, including marina development, port berth facilities, commercial docks, and other related services. The acquisition includes the addition of waterfront real estate along the Anclote River in Tarpon Springs, Florida. The property, which has the potential for storage expansion, serves as the haul-out location for all larger vessels in the fast-growing Tampa Bay region.