OneWater Marine Shares Gain On Deal To Buy Naples Boat Mart For Undisclosed Sum

OneWater Marine Inc ONEW has agreed to acquire the assets of Naples Boat Mart to expand its presence on the West Coast of Florida for an undisclosed sum.
The company expects to close the transaction in the fourth quarter of 2021.
Naples Boat Mart, owned by Philip Osborne, represents boating brands including Grady White, Hurricane, and Key West.
Naples Boat Mart also offers factory-trained technicians to deliver service for its customers, including a full rigging shop and mobile service units. It has raked in about $30 million in sales over the past twelve months from these offerings.
"This acquisition enhances our overall presence on Florida's West Coast and complements our recent acquisition of Walker Marine Group," said OneWater CEO Austin Singleton.
OneWater held $87.5 million in cash and equivalents, including restricted cash, as of March 31, 2021.
Price action: ONEW shares are trading higher by 10.2% at $44.92 on the last check Tuesday.