Industry News

Many of the Marina & Marine business owners we work with do not employ optimal tax planning prior to selling their real estate and business assets. For that reason, we have joined with The Estate Planning Team to introduce a pre-packaged solution, called a Deferred Sales Trust™, to defer capital gains taxes when selling real…

CLEARWATER, Fla.–(BUSINESS WIRE)–MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, today announced that it has entered into a definitive agreement to acquire Island Global Yachting LLC (“IGY Marinas”), which owns and operates a collection of iconic marina assets and a yacht management platform in key global yachting destinations. MarineMax will acquire…

OneWater expands superyacht and charter services. OneWater Marine today announced it reached an agreement to acquire Denison Yachting. “We are thrilled to welcome Bob Denison and his team into the OneWater family, which expands and strengthens our presence in the superyacht and yacht categories,” OneWater CEO Austin Singleton said in a statement. “As we move through…

Power Lodge acquires Miller Marine: strategic implications. Marine and powersports dealer Power Lodge acquired Miller Marine in St. Cloud, Minn. Power Lodge owner Tom Dehn announced the sale in a statement. Miller Marine is the world’s largest seller of high-performance Bennington pontoons and is one of the largest single-point boat dealerships, the statement said. It was once…

TopSide’s third marina, North Point Yacht Club, plans expansion. TopSide Marinas has acquired North Point Yacht Club on Lake Belton in Texas. TopSide plans to invest in the Temple, Tex., marina by adding more than 70 wet slips, TopSide cofounder Jacob Boan said Tuesday in a statement. The property, previously owned by the Brashear family, is…

Trident Marine merges with Coastal, adds six Chesapeake marinas. Trident Marine Group announced that it merged with Coastal Properties Management, adding six Chesapeake Bay marinas to the management company’s portfolio. Trident already manages Nabbs Creek Marina & Yacht Yard, Chesapeake Harbour Marina and Annapolis Maryland Capital Yacht Club. The deal will add Coastal Properties’ Bowley’s…

Suntex acquires The Wharf marina in Marathon, Fla. Suntex Marina Investors last week announced that it acquired The Wharf, a marina in Marathon, Fla., in the Keys. The company plans an extensive renovation of the property, which it plans to relaunch as Ocean View Marina. “In just the short year that we’ve owned Faro Blanco,…

Discover Suntex Marinas’ Latest Strategic Acquisition in Key West Suntex Marinas yesterday announced the acquisition of Garrison Bight Marina in Key West, Fla. The marina has 20 wet slips and 213 dry slips and is located near hotels, restaurants and shopping. Suntex said it is the only full-service marina on the island with dry storage…

Suntex adds Grand Prairie, Texas, to its U.S. marina holdings. Suntex Marina Investors announced yesterday that it purchased Lynn Creek Marina on Joe Pool Lake in Grand Prairie, Texas. “We are excited to take over a staple on Joe Pool Lake in the heart of the southern Dallas suburbs,” Suntex Marinas vice president of operations…

Suntex and Westrec Marinas to merge. One of the world’s largest owner-operators of marinas and marine-related businesses, Westrec Marinas provides professional management services to its properties, affiliates, and clients. Founded in 1987, Westrec owns and manages marina facilities located both in fresh and salt-water environments, handling vessels ranging in size from personal watercraft to megayachts.…