Blackstone's Safe Harbor Marinas Nears $1.5 Billion Deal for MarineMax
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IN SHORT
Blackstone Infrastructure's Safe Harbor Marinas is nearing a $1.5 billion deal to acquire recreational yacht retailer MarineMax. This acquisition follows a months-long bidding war for MarineMax, which serves a wealthy clientele and is expected to be announced this week. In a separate transaction, infrastructure investor I Squared Capital has agreed to acquire Australian outdoor advertising company oOh!media for A$1.04 billion, including debt. This deal includes a cash payment of A$1.70 per share, representing a significant premium.
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Key Numbers
$1.5 billiondeal value for MarineMax
A$1.04 billionacquisition value for oOh!media
A$1.70cash payment per share for oOh!media
Who's Involved
Blackstone Infrastructure
parent company of Safe Harbor Marinas
Safe Harbor Marinas
entity nearing acquisition of MarineMax
MarineMax
recreational yacht retailer targeted for acquisition
I Squared Capital
infrastructure investor acquiring oOh!media
oOh!media
Australian outdoor advertising company being acquired
Key facts
Safe Harbor Marinas is nearing a $1.5 billion deal to acquire MarineMax.
The deal for MarineMax is expected to be announced this week.
MarineMax caters to a wealthy clientele.
I Squared Capital has agreed to acquire oOh!media.
The acquisition of oOh!media is valued at A$1.04 billion, including debt.
The deal for oOh!media includes a cash payment of A$1.70 per share.
The offer for oOh!media represents a significant premium over previous offers and its closing price.
Blackstone Infrastructure's Safe Harbor Marinas is reportedly close to finalizing a $1.5 billion agreement to acquire MarineMax, a prominent retailer of recreational yachts. The deal, anticipated to be announced within the current week, signifies the culmination of an extended bidding process for MarineMax, a company known for catering to affluent customers.
In parallel, infrastructure investor I Squared Capital has reached an agreement to purchase the Australian outdoor advertising firm oOh!media. The acquisition is valued at A$1.04 billion, a figure that encompasses the company's existing debt. This transaction includes a specific cash offer of A$1.70 per share. The terms of the deal represent a substantial premium compared to earlier proposals and the company's recent market closing price.
Both transactions highlight significant activity within the infrastructure and investment sectors, with established firms acquiring companies in specialized markets. Safe Harbor Marinas, a subsidiary of Blackstone Infrastructure, is expanding its reach in the luxury recreational market, while I Squared Capital is broadening its portfolio in the advertising and media space through its Australian acquisition.
↳ Why This Matters
Blackstone Infrastructure's Safe Harbor Marinas is reportedly close to finalizing a $1.5 billion agreement to acquire MarineMax, a prominent retailer of recreational yachts. The deal, anticipated to be announced within the current week, signifies the culmination of an extended bidding process for MarineMax, a company known for catering to affluent customers.
Frequently asked questions
Safe Harbor Marinas is the world's largest owner and operator of marinas, owned by Blackstone Infrastructure.
MarineMax is a recreational yacht retailer with 65 marinas and storage locations and 70 dealerships.
The deal is nearing $1.5 billion, with an equity valuation of $1.17 billion and approximately $53 per share in cash.
What Happens Next
01A deal announcement could occur as soon as this week.
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