MarineMax Acquires France-Based Superyacht Management Company SYM For Undisclosed Sum

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.