MarineMax to Acquire IGY Marinas for USD 480m in Cash.
MANews-(C)2009-2022
Florida, US-based recreational boat and yacht retailer MarineMax, Inc. (NYSE: HZO) has agreed to acquire Fort Lauderdale-based Island Global Yachting LLC (IGY Marinas), owner and operator of marina assets and a yacht management platform, for USD 480m in cash, the company said.
In addition to the USD 480m, there is an additional potential earnout of up to USD 100m two years after closing, subject to the achievement of defined performance metrics.
IGY Marinas, through recent acquisitions and organic growth, is projected to...
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