MarineMax, Inc. (NYSE: HZO) shares climbed Thursday. The company, the world’s largest recreational boat, yacht and superyacht services company, has completed the previously announced acquisition of Shelter Bay Marine, a full-service marina and storage facility in Marathon, Florida. The acquisition is expected to be accretive in the first full year of operations.
“The acquisition of Shelter Bay Marine strategically expands our presence in the Middle Keys, strengthening our ability to serve boaters across the region,” said CEO Brett McGill. “We welcome Shelter Bay’s experienced team to the MarineMax family as we continue to execute on our long-term growth and margin enhancement strategy.”
As the world’s largest lifestyle retailer of recreational boats and yachts, as well as yacht concierge and superyacht services, MarineMax is United by Water.
“We have over 120 locations worldwide, including over 70 dealerships and 65 marina and storage facilities,” reads this morning’s news release. “Our integrated business includes IGY Marinas, which operates luxury marinas in yachting and sport fishing destinations around the world; Fraser Yachts Group and Northrop & Johnson, leading superyacht brokerage and luxury yacht services companies; Cruisers Yachts, one of the world’s premier manufacturers of premium sport yachts, motor yachts, and Aviara luxury dayboats; and Intrepid Powerboats, a premier manufacturer of powerboats.”
HZO shares gathered $1.11, or 4.7%, to $24.74.
