Enter Wall Street with StreetInsider Premium. Claim your one week free trial here.
MarineMax, Inc. (NYSE: HZO), the world’s largest pleasure boat and yacht retailer, today announced the acquisition of Superyacht Management, LLC, better known as SYM. SYM is a superyacht management company based in Golfe Juan, France. The acquisition is expected to be accretive in its first full year.
- ~Acquires Superyacht Management Company based in the South of France~
- ~Strengthens its position as the world’s largest superyacht service provider~
- ~Committed to building higher margin businesses~
- ~Acquisition expected to be accretive in first full year~
SYM is being acquired by Northrop & Johnson, a superyacht brokerage and charter services business, which MarineMax acquired in 2020. SYM expands Northrop & Johnson’s service offerings by allowing it to enter the important business of yacht management and to serve its growing base of superyacht customers more effectively, while strengthening its newbuild capabilities.
W. Brett McGill, CEO and President of MarineMax, said, “The addition of SYM complements MarineMax’s continued diversification toward higher margin and global business. By adding SYM, the company reinforces its commitment to providing exceptional customer service experiences on all superyachts. service offerings including buying, selling, insurance, build, crew and charter We are very pleased that Ben Young MBE, Founder of SYM, and his team with their many years of experience invaluable in yacht management team up with Northrop & Johnson. ”
