Member News: MarineMax Acquires Intrepid Boats
By: MIASF Staff
Date posted: Nov 04, 2021 Thu
MarineMax announced in a statement that it entered into an agreement to acquire Intrepid Powerboats. Terms of the deal were not disclosed.
Headquartered in Largo, Fla., Intrepid builds a fleet of outboard fishing boats and other models from 24 to 47 feet. The company said its direct-to-consumer distribution model has yielded $60 million in revenue during the last 12 months.
MarineMax president and CEO Brett McGill said in the statement that the acquisition follows MarineMax’s strategy of “adding quality businesses to our portfolio and implementing best practices to support the expansion of our gross margins.”
“The strategic acquisition of Intrepid Powerboats allows us to provide Intrepid with additional resources to expand and to enhance how it serves their extremely loyal customer base,” McGill added. “We believe we can help grow the Intrepid brand by leveraging our digital technologies, capital and other resources.”
Intrepid president Ken Clinton said the deal will take “all aspects of the business to the next level,” including sales and customer service.
“We are excited to join the MarineMax family and to have access to their vast resources,” Clinton said. “Those resources will help us continue to lead the industry in innovation and bringing new product to market.”
Added Intrepid chairman (and majority shareholder) David Gilliki: “There is no organization better suited to help guide Intrepid for the future than MarineMax. I look forward to many more years as a loyal Intrepid boat owner while watching the company and team grow.”