Stonepeak Acquires Southern Marinas
U.S. marina owner and operator Southern Marinas has just been acquired by Stonepeak.
Founded in 2018, Southern Marinas owns and operates a diversified portfolio of 16 marinas located across eight U.S. states, including Florida, Idaho, Missouri, New Jersey, New York, North Carolina, Tennessee and Washington. The company’s core storage business is comprised of more than 6,700 slips and is complemented by a range of ancillary operations, including fuel, boat rentals and service.
Southern Marinas also recently acquired F3 Marina, a 59,000-square-foot facility in Fort Lauderdale, Florida.
“With the close of this transaction, we are entering into an exciting new chapter as we look to further strengthen the business and propel our growth,” said Mitchell Jones, co-founder and Chairman of Southern Marinas, in a news release. “Stonepeak brings deep infrastructure expertise, experience building scaled businesses, and a clear strategic perspective, and we are confident they will make an excellent partner as we continue to deliver for our customers.”
“This transaction reflects our strong conviction in the resilience and long-term fundamentals of the U.S. marina sector,” added James Wyper, Senior Managing Director, Head of U.S. Private Equity, and Head of Transportation & Logistics at Stonepeak.
