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Market Overview

Monomoy Capital Partners Completes the Acquisition of West Marine, Inc.


-- Acquisition Adds the Leading Distributor and Retailer of Boating
Parts and Accessories to Monomoy's Portfolio --

Monomoy Capital Partners ("Monomoy"), a New York private equity fund
focused on constructive investing and business improvement in the middle
market, announced today that it has successfully completed the
acquisition of West Marine, Inc. (NASDAQ:WMAR) at a price of $12.97 per
share or a total of approximately $337 million. The transaction was
originally announced on June 29, 2017, and West Marine's stockholders
approved the acquisition on September 12, 2017.

West Marine is the largest specialty retailer of boating supplies and
accessories in the United States, with 249 stores located in 37 states
and Puerto Rico. The company carries more than 175,000 aftermarket
products, ranging from rope and rigging, to marine electronics,
technical apparel, footwear and accessories. In addition to its retail
stores and West Marine Pro wholesale divisions, the Company serves
boating enthusiasts in more than 150 countries worldwide through its
mail order and e-commerce divisions. Based in Watsonville, California,
the Company operates two distribution centers in California and South
Carolina and employs more than 4,000 dedicated staff members.

"We are excited to welcome West Marine to the Monomoy portfolio," said
Dan Collin, Monomoy's Co-Chief Executive Officer. "We have long admired
West Marine and the unique value the company provides for its loyal
customers and world class associates. We look forward to working with
the company's management team to ensure that West Marine continues to
lead the industry."

"We are excited to be joining forces with Monomoy Capital Partners to
grow and improve our business," said Matt Hyde, West Marine's Chief
Executive Officer. "This transaction ensures that West Marine can
continue to offer outstanding value to our customers and provide a
rewarding workplace for our associates."

Monomoy's acquisition of West Marine marks the firm's third middle
market investment of 2017, following its acquisitions of Klaussner
Furniture Industries, Inc. and Friedrich Holdings, Inc. in February.
Monomoy acquired West Marine through its third fund vehicle, Monomoy
Capital Partners III, L.P.

Jefferies LLC advised Monomoy on the deal; Michael Weisser and Megan
Spelman from Kirkland & Ellis LLP provided Monomoy with legal counsel in
the transaction; and Grant Thornton LLP completed financial and
accounting diligence. Bank of America and Pathlight Capital provided
financing for the transaction.

About Monomoy Capital Partners

Monomoy Capital Partners is a private equity firm with $1.5 billion in
committed capital that makes control investments in middle market
businesses in the manufacturing, industrial, distribution, and consumer
sectors. Monomoy designs and executes a customized value creation plan
for each acquisition that seeks to generate significant cash flow and
improve earnings within 12 to 18 months of a Monomoy investment. Over
the past 12 years, Monomoy has closed nearly 50 middle market
acquisitions, and its companies have produced over $3 billion in
combined sales and employed more than 12,000 associates across four

Monomoy Capital Partners III, L.P., actively pursues the acquisitions of
middle market businesses that can benefit from Monomoy's focus on value
creation, strategic growth and business excellence. Since the firm was
formed in 2005, Monomoy has grown from its three founders to a firm of
over 35 investment and operating professionals. To learn more about
Monomoy and its portfolio companies, please visit the firm's website at

About West Marine, Inc.

With 249 stores located in 37 states and Puerto Rico and an e-commerce
website reaching domestic, international and professional customers,
West Marine is recognized as a leading waterlife outfitter for power
boaters, sailors, anglers, water sport and paddle sport enthusiasts.
Since first opening its doors in 1968, West Marine and its associates
have shared the same enthusiasm for boating and water recreation as its
customers and has provided helpful advice on the gear and gadgets they
need to be safe and have fun. To learn more about West Marine, please
visit the West Marine website at

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