OneWater Marine Acquires Harbor View Marine To Expand Gulf Coast Presence - OneWater Marine (NASDAQ:ONEW)

OneWater Marine Inc ONEW has signed a definitive agreement to acquire Harbor View Marine, one of the Gulf Coast's largest locally owned dealerships. The financial terms were not disclosed.
Harbor View Marine is a family-owned and operated business offering brands such as NauticStar, Jeanneau, G3, and Bayliner.
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.
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.
OneWater held $95.7 million in cash and equivalents as of June 30, 2022.
"OneWater's focus on strategic growth remains steadfast and parallels our customers' desire to explore new products and brands," said CEO Austin Singleton.
Price Action: ONEW shares are trading higher by 1.97% at $30.58 on the last check Tuesday.
Photo Via Company