Investment firms Blackstone and Donerail, together with private equity firm Centerbridge, have reportedly reached the final stage of bidding for US yacht retailer and marina operator MarineMax as the company explores a potential sale.
According to Reuters, citing people familiar with the process, the three firms remain in contention to acquire the Florida-based business, which has an estimated market value of around $725m. MarineMax has not confirmed that it is running a sale process.
The company operates around 70 dealerships and 65 marina and storage facilities, mainly across the US. Its business also includes yacht brokerage, charter and marina operations, including Island Global Yachting (IGY), which it acquired in 2022.
Discussions over a possible deal began earlier this year after Donerail submitted an unsolicited all-cash proposal worth about $1bn. The investment firm later improved its offer as more bidders entered the process, including Blackstone and, at an earlier stage, TPG Group. MarineMax is understood to have formally invited interest from prospective buyers from April.
Sources claims that some shareholders believe the greatest value could lie in separating the company’s marina and yacht services division, particularly IGY, although no details of a potential transaction structure or valuation have been disclosed.
MarineMax has faced sustained pressure from activist investors. Donerail began urging the company last year to consider a sale or replace chief executive Brett McGill, following calls from Levin Capital in 2024 for the board to assess strategic alternatives.
The company has since introduced governance changes, including appointing new board directors. Even so, it made no reference to a potential sale process when it released its latest quarterly results on 23 July.
Representatives for MarineMax, Blackstone and Donerail declined to comment on the reported bidding process, while Centerbridge did not immediately respond to requests for comment.
The reported interest comes as investment in marinas and superyacht infrastructure continues to grow. Investors have increasingly targeted marina portfolios because they combine waterfront property with recurring revenue and access to affluent customers. Deal activity across the sector has remained strong over the past 18 months.
Blackstone strengthened its position in the market with its 2025 acquisition of Safe Harbor Marinas for about $5.7bn. Earlier this year, Stonepeak also acquired marina owner and operator Southern Marinas.
Lower interest rates have continued to support spending among high-net-worth consumers on luxury products such as yachts, despite weaker demand across other parts of the consumer market.
MarineMax is one of the marine industry’s largest retailers and marina operators. The company generated $2.3bn in revenue last year and has a global network of more than 130 dealership and marina locations.
MarineMax shares traded at about $33.30 on 24 July, leaving the stock up around 37 per cent since the start of the year. Even so, the share price remains well below the record high reached in May 2021.
No agreement has been announced and there is no guarantee that the bidding process will result in a transaction.
The post Blackstone, Donerail reportedly among final MarineMax bidders appeared first on Marine Industry News.
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