MarineMax Buys Northrop & Johnson; Deal To Be Accretive In Its First Full Year - Quick Facts

(RTTNews) - MarineMax Inc. (HZO) said it acquired Northrop & Johnson, one of the largest superyacht brokerage and services companies with offices across the globe. The acquisition is expected to be accretive in its first full year.

W. Brett McGill, Chief Executive Officer and President of MarineMax, stated, "The merger with Northrop & Johnson marks another significant step in the diversification of MarineMax into a higher margin and digitally enhanced business. On a global scale, the unified team of Fraser Yachts and Northrop & Johnson creates an unprecedented superyacht powerhouse. From entry level boaters to the largest luxury yacht, we want our clients' experiences to be the best in the world.

The company also announced that its June quarter revenue would exceed the same quarter in the prior year, as retail trends continue to be driven by very strong demand for the boating lifestyle. The company's liquidity, consisting of cash on hand and availability under its credit facility, now exceeds $180 million before considering its sizable unleveraged real estate portfolio.