OneWater Marine Welcomes James Brewer as Managing Director of Roscioli Yachting Center

Rhea-AI Summary

OneWater Marine Inc. (NASDAQ: ONEW) announced that industry veteran James Brewer will become Managing Director of the Roscioli Yachting Center, starting July 12, 2021. Brewer brings over 40 years of marine experience, including his tenure at Derecktor Shipyards. His role will focus on strategy and growth for the Roscioli Yachting Center, which offers services for yachts up to 150 feet and supports sales of brands like Sunseeker. The announcement reflects OneWater's commitment to enhancing its yachting capabilities and expanding its market presence.

Positive

• Appointment of James Brewer as Managing Director enhances leadership in the yachting sector.
• Brewer's extensive experience could lead to significant business growth for Roscioli Yachting Center.
• Expansion of yachting sales and service capabilities is likely with the addition of Brewer.

Negative

• None.

Brings 40+ years of South Florida yachting experience

BUFORD, Ga., June 21, 2021 (GLOBE NEWSWIRE) -- OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or “the Company”) announced today that marine industry veteran James Brewer will join the Company as Managing Director of the Roscioli Yachting Center, effective July 12, 2021. In this role, Brewer will lead strategy, planning and execution, as well as business development for the Roscioli Yachting Center within the OneWater Yacht Group.

“James is a legend in the South Florida yachting community. We are thrilled to have him join the OneWater family to extend Bob Roscioli’s legacy and grow our yachting sales and service capabilities,” commented Austin Singleton, Chief Executive Officer of OneWater Marine.

Mr. Brewer’s marine industry experience spans more than four decades and includes managing and growing profitable shipyards and conducting multi-million-dollar mega-yacht repair and refit projects and new construction. He most recently served as Senior Manager for Derecktor Shipyards where he spent more than 30 years in various roles including operations, business development and management. Mr. Brewer currently serves on the board of directors for the Marine Industries Association of South Florida.

In addition to offering comprehensive service and refitting for yachts and mega yachts up to 150 feet, the Roscioli Yachting Center also supports the sale of new Absolute, Belize, Riviera, and Sunseeker yachts as a division of the OneWater Yacht Group. The OneWater Yacht Group is the exclusive distributor for Sunseeker Yachts in the United States.

“We are thrilled to welcome James into the OneWater family. His deep industry knowledge will be invaluable to further developing the OneWater Yacht Group’s growth strategy including expanding the Roscioli Yachting Center brand in the refit and service market,” commented Tom George, Managing Director of the OneWater Yacht Group.

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 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: risks related to the satisfaction of the conditions to closing the acquisition in the anticipated timeframe or at all, risks related to the ability to realize the anticipated benefits of the acquisition, including the possibility that the expected benefits from the proposed acquisition will not be realized or will not be realized within the expected time period, the risk that the businesses will not be integrated successfully, decline in demand for our products and services, restrictions on the availability of inventory, 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 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a2a39455-1d94-4011-9d12-b02877bebb1b

FAQ

Who is the new Managing Director of the Roscioli Yachting Center?

James Brewer has been appointed as the new Managing Director of the Roscioli Yachting Center.

What is the significance of James Brewer's appointment for OneWater Marine?

Brewer's appointment is expected to enhance OneWater's strategy and growth in yachting services.

When will James Brewer start his role at OneWater Marine?

James Brewer will begin his role as Managing Director on July 12, 2021.

What services does the Roscioli Yachting Center provide?

The Roscioli Yachting Center offers comprehensive service and refitting for yachts and mega yachts up to 150 feet.

What brands of yachts does OneWater support?

OneWater is the exclusive distributor for brands like Absolute, Belize, Riviera, and Sunseeker yachts in the U.S.