OneWater Marine Inc. announced that it has acquired Harbor Pointe Marina, which further expands the Company’s presence on Alabama’s Lake Martin and enhances new and pre-owned boat sales, finance, and parts and services offerings.
“Harbor Pointe Marina presents an exciting, low-risk opportunity to assume a dealership operation at virtually no cost. Furthermore, OneWater’s proven dealership integration and growth strategies enables us to expand the product offering available to Harbor Pointe Marina’s customers and broaden our reach in an attractive boating market,” said Austin Singleton, Chief Executive Officer for OneWater. “The M&A environment continues to pick up steam, and we are in a position of strength as we opportunistically build on our strong track record of successful acquisitions.”
Harbor Pointe Marina is an on-water facility located in Dadeville, Ala. Post acquisition, OneWater intends to offer Bennington Pontoons and Regal Boats. In addition to new and pre-owned boat sales, Harbor Pointe Marina offers service and repair, parts and accessories, boat rentals, and a large boat storage facility.
Under the terms of the agreement, OneWater acquired the net assets of the dealership operation, excluding the real estate as well as the boat inventory, which will be taken on a consignment basis, resulting in minimal capital outlay. Harbor Pointe Marina generated approximately $5.8 million in sales in 2022.