OneWater Marine Inc. Completes the Acquisition of Denison Yachting
OneWater Marine Inc. has completed the acquisition of Denison Yachting, expanding its presence in the superyacht market. Denison has ranked as the top seller in superyachts for three years according to Boat International’s BOATPRO database. The acquisition aims to enhance OneWater’s product offerings, including yacht brokerage, sales, and services, leveraging Denison's record growth in yacht charter and management since 2019. CEO Austin Singleton expressed optimism about combining strengths to meet rising market demand.
- Acquisition of Denison Yachting strengthens OneWater's presence in the lucrative superyacht sector.
- Denison Yachting ranked #1 in superyacht sales for three consecutive years, indicating strong market performance.
- Inclusion of Denison’s growing yacht charter and management services enhances OneWater’s service portfolio.
- None.
Further advances growth and diversification strategy with leading superyacht dealer
BUFORD, Ga., April 05, 2022 (GLOBE NEWSWIRE) -- OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or the “Company”) announced today that it has completed the previously announced acquisition of Denison Yachting. The transaction expands the Company’s presence in the superyacht category and ancillary yacht service offerings, in addition to yacht brokerage and new boat sales.
Denison has ranked #1 in superyacht sales for three consecutive years, per Boat International’s BOATPRO database of the superyacht market. Further, Denison’s yacht charter and yacht management services, including its crew placement division, have experienced record growth since 2019.
“Denison Yachting is another outstanding addition to our impressive list of strategic acquisitions, significantly bolstering our product portfolio and customer reach. Bob Denison and his team have earned every ounce of their reputation as the worldwide leader in superyacht sales, and we are excited to have them aboard. We look forward to utilizing our combined strength to capitalize on robust demand, while also elevating our leadership position for years to come,” said Austin Singleton, Chief Executive Officer for OneWater.
About OneWater Marine Inc.
OneWater Marine Inc. is one of the largest and fastest-growing premium marine retailers in the United States. OneWater operates a total of 96 retail locations, 10 distribution centers/warehouses and multiple online marketplaces in 20 different states, several 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, finance and insurance products, parts and accessories, maintenance, repair and other services.
Investor or Media Contact:
Jack Ezzell
Chief Financial Officer
IR@OneWaterMarine.com
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: effects of industry wide supply chain challenges and our ability to maintain adequate inventory, changes 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, risks related to the ability to realize the anticipated benefits of any proposed or recent acquisitions within the anticipated timeframe or at all, including the risk that proposed or recent acquisitions will not be integrated successfully, 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, 2021, which is on file with the SEC and available from OneWater Marine’s website at www.onewatermarine.com under the “Investors” tab, and in other documents OneWater Marine files with the SEC. 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.
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