OneWater Marine Announces the Creation of OneWater Yacht Group

Rhea-AI Summary

OneWater Marine Inc. has launched the OneWater Yacht Group, consolidating its yacht sales teams under a unified brand to enhance its market presence and growth potential. This new group will operate branded sales offices across several states, including Florida and New York, representing premium yacht brands. The initiative also features the Roscioli Yachting Center, a full-service marina acquired in December 2020, which will support superior service delivery. CEO Austin Singleton emphasized the focus on redefining yacht buying and ownership standards.

Positive

• Launch of OneWater Yacht Group enhances brand unity and growth opportunities.
• Acquisition of Roscioli Yachting Center strengthens service offerings.
• Expansion across multiple states with branded sales offices.

Negative

• None.

Brings together a nationwide network of yacht sales and service under one unified brand

BUFORD, Ga., March 25, 2021 (GLOBE NEWSWIRE) -- OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or “the Company”) announced today that it has created the OneWater Yacht Group, bringing together its geographically diverse yacht sales team and Grande Yachts sales team, under one unified brand to further enhance the positioning of the Company’s yacht sales and services locations. The group unifies OneWater’s yachting presence and provides a launchpad for further growth, while amplifying the Company’s service and repair offerings at the Roscioli Yachting Center.

“We are incredibly excited to introduce the OneWater Yacht Group, which we believe will redefine the gold standard of yacht buying and ownership,” said Austin Singleton, Chief Executive Officer of OneWater. “This re-alignment intensifies our focus on expanding our yachting sales and services and unifies our team of industry veterans under one brand to accelerate the opportunities in the yachting segment.”

Capitalizing on OneWater’s breadth of in-house services and expansive geographic footprint, the Company has rebranded certain Grande Yachts’ sales and brokerage locations, led by Bryan Braley. The OneWater Yacht Group will have branded sales offices in Southeast Florida, North Carolina, New York, and Maryland, as well as satellite offices in Clearwater and Destin, Florida, Lake Lanier, Georgia, and Boston and Cape Cod, Massachusetts. The Group represents some of the best brands in yachting including, Absolute, Belize, Chris-Craft, Riviera, Sunseeker and Prestige Yachts in select locations.

Supporting the OneWater Yacht Group and its customers is the Roscioli Yachting Center (“Roscioli”), which the Company acquired in December 2020. Roscioli is a renowned, full-service marina and yachting facility located in Fort Lauderdale, Florida, which has served yacht owners for more than 50 years. The Roscioli team includes more than one hundred skilled craftsmen who utilize premier equipment and technology to provide customers with best-in-class services ranging from custom carpentry and fabrications, painting and refinishing, master mechanics, and superior dockside hospitality. The Roscioli Yachting Center enables the OneWater Yacht Group to deliver an unrivaled yacht buying and ownership experience.

The OneWater Yacht Group will be led by Tom George, CYPB, who joined OneWater Marine when the Company acquired the Tom George Yacht Group in December 2020. Tom has more than 30 years of experience in the yachting industry.

About OneWater Marine Inc.

OneWater Marine Inc. is one of the largest and fastest-growing premium recreational boat retailers in the United States. OneWater operates 69 stores throughout 10 different states, seven of which are in the top twenty states for marine retail expenditures. OneWater offers a broad range of products and services and has diversified revenue streams, which include the sale of new and pre-owned boats, parts and accessories, finance and insurance products, maintenance and repair services and ancillary services such as boat storage.

Investor Contact:
Jack Ezzell
Chief Financial Officer
IR@OneWaterMarine.com

Media Contact:
Evan Davis
Director, Marketing
evan@onewatermarine.com
770-674-6742

Cautionary Statement Concerning Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including regarding our strategy, future operations, financial position, prospects, plans and objectives of management, growth rate and its expectations regarding future revenue, operating income or loss or earnings or loss per share. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “will be,” “will likely result,” “should,” “expects,” “plans,” “anticipates,” “could,” “would,” “foresees,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “outlook” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. These forward-looking statements are not guarantees of future performance, but are based on management's current expectations, assumptions and beliefs concerning future developments and their potential effect on us, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Our expectations expressed or implied in these forward-looking statements may not turn out to be correct.

Important factors, some of which are beyond our control, that could cause actual results to differ materially from our historical results or those expressed or implied by these forward-looking statements include the following: decline in demand for our products and services, the seasonality and volatility of the boat industry, our acquisition and business strategies, the inability to comply with the financial and other covenants and metrics in our credit facilities, cash flow and access to capital, effects of the COVID-19 pandemic and related governmental actions or restrictions on the Company’s business, the timing of development expenditures, and other risks. More information on these risks and other potential factors that could affect our financial results is included in our filings with the Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our Annual Report on Form 10-K for the fiscal year ended September 30, 2020. Any forward-looking statement speaks only as of the date as of which such statement is made, and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise.

FAQ

What is the OneWater Yacht Group?

The OneWater Yacht Group is a newly launched brand unifying OneWater Marine's yacht sales and service teams to enhance market positioning and growth.

How does the Roscioli Yachting Center support OneWater's services?

The Roscioli Yachting Center provides a full range of yachting services, including repairs and maintenance, supporting the operations of the OneWater Yacht Group.

In which states will the OneWater Yacht Group operate?

The OneWater Yacht Group will operate branded sales offices in Southeast Florida, North Carolina, New York, Maryland, and several locations in Florida and Massachusetts.

Who is leading the OneWater Yacht Group?

The OneWater Yacht Group will be led by Tom George, who has over 30 years of experience in the yachting industry.

When was the OneWater Yacht Group announced?

The OneWater Yacht Group was announced on March 25, 2021.