- MarineMax Inc HZO has acquired Superyacht Management S.A.R.L., better known as SYM, for an undisclosed sum. SYM is a superyacht management company based in Golfe Juan, France.
- SYM is being acquired by Northrop & Johnson, a superyacht brokerage and charter services business acquired by MarineMax in 2020.
- MarineMax CEO Brett McGill stated, "The addition of SYM complements MarineMax's ongoing diversification into a higher margin and global business."
- MarineMax noted Ben Young, founder of SYM, and his team will join forces with Northrop & Johnson.
- MarineMax expects the acquisition to be accretive in its first full year.
- The company held $216.3 million in cash and equivalents as of December 31, 2021.
- Price Action: HZO shares are trading higher by 0.69% at $40.19 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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