Safe Harbor Marinas to acquire MarineMax for $1.5bn

MarineMax Inc and Safe Harbor Marinas announced on 9 August 2026 that they have entered into a definitive agreement under which Safe Harbor will acquire all outstanding MarineMax shares for $53.00 per share in cash, an all-cash transaction valuing MarineMax at around $1.5bn.

MarineMax is a marina operator, superyacht services company and recreational boat and yacht retailer, with over 120 locations worldwide including over 70 dealerships and 65 marina and storage facilities. Its brands include IGY Marinas, Fraser Yachts, Northrop & Johnson, Cruisers Yachts, and Intrepid Powerboats. Safe Harbor Marinas is a marina and superyacht service business and a Blackstone Infrastructure portfolio company. Blackstone Infrastructure itself acquired Safe Harbor from Sun Communities in a separate, earlier $5.65 billion deal in February 2025.

The deal is a definitive merger agreement providing for an all-cash acquisition of all outstanding shares. Upon completion MarineMax will be delisted from the NYSE and become privately held. The deal followed a competitive strategic review process, run by MarineMax's board after an unsolicited, non-binding proposal from the Donerail Group, at $35.00 per share, became public around 30 January to the 3rd February. The current deal represents a 96% premium to the pre-disclosure closing price of $27.03.

This means MarineMax’s board looked at options after an unwanted initial bid from Donerail, and then chose a better deal. The new price is therefore 96% above the stock price before that bid became public. The transaction is also subject to MarineMax shareholder approval and regulatory approvals, but explicitly not subject to a financing condition. The expected close is by the end of 2026.

The press release for the deal states it is not conditioned on financing, but does not disclose the specific funding structure (i.e. equity from Blackstone Infrastructure funds vs. any debt component). This remains unconfirmed. Financial adviser to MarineMax is listed as Wells Fargo, and Sidley Austin LLP as the legal counsel. For Safe Harbor, Evercore is listed as the exclusive financial advisor, with Simpson Thacher & Bartlett LLP as the legal counsel.

This case represents an unsolicited low-ball approach. Donerail's $35.00/share offer triggered a formal board-run strategic review that produced a much higher agreed price from a different, strategic-infrastructure buyer. The deal also reflects continued consolidation in the marina and boating-services sector, with Blackstone Infrastructure expanding an existing platform by folding in the world's largest boat and yacht retailer.