Member News: MarineMax Investments and Acquisitions
By: MIASF Staff
Date posted: May 04, 2022 Wed
MarineMax, Inc. announced that it has acquired Superyacht Management, S.A.R.L., better known as SYM. SYM is a superyacht management company based in Golfe Juan, France. The acquisition is expected to be accretive in its first full year.
SYM is being acquired by Northrop & Johnson, a superyacht brokerage and charter services business, which MarineMax acquired in 2020. SYM expands Northrop & Johnson’s service offerings by enabling it to enter the important yacht management business and more effectively serve its expanding base of superyacht clients, while also strengthening its new build construction capabilities.
"The addition of SYM complements MarineMax’s ongoing diversification into a higher margin and global business," W. Brett McGill, chief executive officer and president of MarineMax, stated. "By adding SYM, the company strengthens its commitment to providing exceptional customer service experiences across all superyacht service offerings, including buying, selling, insuring, building, crewing, and chartering. We are very excited that Ben Young MBE, founder of SYM, and his team with their many years of invaluable yacht management experience will join forces with Northrop & Johnson.”
MarineMax announced that it has invested in and partnered with online marketplace Boatzon.
Boatzon is the first fully online marine retailer, MarineMax said in a statement yesterday. It offers boats, engines, trailers and other products, as well as financing and insurance.
"The partnership aligns well with our higher-margin business growth and diversification goals," MarineMax president and CEO W. Brett McGill said. "It enhances our industry-leading innovative technologies and digital tools."
Based in Hallandale Beach, Fla., Boatzon launched last year.
"Being avid boaters, as well as technology entrepreneurs, we realized that the marine industry lacked the online customer experiences many industries offer and consumers have come to expect," Boatzon CEO Bryan Lenett said. "When we set out to develop Boatzon, we wanted to incorporate best-in-class technology for the marine industry to provide an experience that offers a dramatically different end-to-end customer experience."