MarineMax Acquires Texas MasterCraft For Undisclosed Sum

MarineMax Inc HZO has acquired the assets of Texas MasterCraft, a full-service Dallas, Texas area towboat dealer, for an undisclosed sum.
Jimmy Harvell launched Texas MasterCraft in 2001, after several years of teaching as a waterski pro and working with various other Dallas area dealerships.
Texas MasterCraft generated revenue of over $45 million in 2020. MarineMax expects the acquisition to be accretive in its first full twelve months after the closing.
Through the deal, MarineMax has expanded into the largest towboat market in the U.S. The dealership benefits from a private lake it owns used for various promotional events and customer demonstration purposes.
MarineMax held $222.2 million in cash and equivalents as of September 30, 2021.
Price Action: HZO shares are trading higher by 2.88% at $53.28 on the last check Monday.