OneWater Marine Inc. Completes the Acquisition of Naples Boat Mart
On October 4, 2021, OneWater Marine (NASDAQ: ONEW) announced the acquisition of Naples Boat Mart, enhancing its presence on Florida's West Coast. This acquisition will broaden the company's offerings in new and pre-owned boat sales, storage, service, and financing.
CEO Austin Singleton expressed optimism about the growth prospects from this strategic move. OneWater operates 71 stores across 11 states, providing diverse revenue streams, including boat sales and maintenance services.
- Acquisition of Naples Boat Mart strengthens OneWater's footprint in West Coast Florida.
- Expands revenue streams in new and pre-owned boat sales and related services.
- Integration challenges may arise from the acquisition.
- Potential risks associated with maintaining adequate inventory amidst supply chain issues.
BUFORD, Ga., Oct. 04, 2021 (GLOBE NEWSWIRE) -- OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or the “Company”) announced today that it has completed the previously announced acquisition of Naples Boat Mart. The acquisition enhances the Company’s presence on the West Coast of Florida and expands new and pre-owned boat sales, storage, service and repair, and finance and insurance offerings.
“We continue to execute on our M&A strategy and are delighted to officially welcome Philip Osborne and the Naples Boat Mart team into the OneWater family. We are excited about enhancing our footprint on the West Coast of Florida and driving growth across multiple revenue streams for the Company, as a result of this acquisition,” said Austin Singleton, Chief Executive Officer for OneWater.
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 71 stores throughout 11 different states, eight 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 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, 2020 and in our subsequently filed Quarterly Reports on Form 10-Q, each of 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.
FAQ
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