This photo illustration, a smartphone displays the logo of MarineMax, Inc. (NYSE: HZO), a recreational boat and yacht retailer and superyacht services company, in front of a screen showing the company's latest stock market chart (Photo illustration by Cheng Xin/Getty Images)

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Full disclosure. I’m not a business writer. Nor do I play one on TV. However, I’m pretty plugged into the global yachting industry. And I live in Boston so, I’m pretty familiar with MarineMax’s numerous boat dealerships, marina and storage facilities, large yacht brokerage firms Fraser and Northrop & Johnson, Cruisers Yachts and Intrepid yacht brands, and all the other boating related companies MarineMax operate.

And since Safe Harbor is a marina and superyacht service business with significant waterfront real estate holdings that was purchased by Blackstone Infrastructure (reportedly the world’s largest alternative asset manager with more than $1 trillion under management) last year, the news that Safe Harbor has struck a deal to buy MarineMax for $1.5 billion is not really a surprise. What’s still to be determined is how the deal will affect yachting industry as a whole, and the people who love to get out on the water on boats and yachts of all sizes--who also happen to need all the services MarineMax has provided in the past and will provide in the future.

“We are pleased to have reached this agreement with Safe Harbor,” said Brett McGill, Chief Executive Officer and President of MarineMax. “Throughout this process, we have remained focused on maximizing value for our shareholders and positioning MarineMax for continued growth and success. I am proud of the strength of our differentiated, resilient and integrated model, loyal customer base, talented team and premium product portfolio. The scale of our combined platforms will help us enhance and expand our offerings, deepen our partner and customer relationships, and provide greater opportunities for our team.”

Baxter Underwood, Chief Executive Officer of Safe Harbor, said, “MarineMax has a talented team and deep relationships across the industry. By bringing together these two complementary businesses, we believe we can create greater value for boaters and an expanded service offering for the industry. We look forward to partnering with the MarineMax team to support their next chapter of growth.”

Rebecca White, Chairperson of the Board, added, “The transaction announced today is the result of careful consideration and negotiation by the Board and management. Following a thoughtful and comprehensive process, the Board unanimously concluded that this transaction is in the best interests of MarineMax and its shareholders, and that the transaction price represents compelling and certain value for MarineMax’s shares.”

According to a press release, the transaction which was unanimously approved by the Board, is expected to close by the end of the calendar year 2026, subject to customary closing conditions, including certain regulatory approvals and the approval of MarineMax’s shareholders. The Board recommends that MarineMax shareholders vote their shares in favor of the transaction at a special meeting of shareholders that will be held to vote on the transaction. The closing of the transaction is not subject to a financing condition.

If the transaction is completed, MarineMax would become a privately held company, and MarineMax’s common stock would no longer be listed on the New York Stock Exchange.

Watch this space.