Holland & Knight Advises MarineMax on Acquisition of IGY Marinas
TAMPA, Fla. (August 11, 2022) – Holland & Knight is representing MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, on its acquisition of Island Global Yachting LLC (IGY Marinas), which owns and operates a collection of iconic marina assets and a yacht management platform in key global yachting destinations. The deal was announced on Aug. 9. The transaction involves the acquisition of marinas in the United States, Puerto Rico, the U.S. Virgin Islands and 12 other jurisdictions on three continents.
MarineMax will acquire IGY Marinas for $480 million in cash, with an additional potential earnout of up to $100 million two years after closing, subject to the achievement of defined performance metrics. The acquisition is expected to close in the first half of fiscal 2023.
Clearwater, Fla.-based MarineMax has over 100 locations worldwide, including 79 retail dealership locations, which includes 34 marinas or storage operations.
Holland & Knight's representation of MarineMax was led by Partners Bob Grammig, Alyse Latour, Ariadna Alvarez, Betsy Burkhard, John Dierking, Adrian Gay Lasa, Jack Levine, David Lisko, Luis Rubio, Robert Warram and Barbara Yadley; Of Counsel Stacy Watson May; Associates, Joseph Bobo, Meredith Clarke, Maria Cortes and Jorge Gonzalez; and Law Clerk Liz Barrett.
More information about the transaction can be found here.