Southern Marinas, owner and operator of marinas in the United States, has been acquired by investment firm Stonepeak.
Southern Marinas was founded in 2018 and owns and operates a portfolio of 16 marinas located across the US – in Florida, Idaho, Missouri, New Jersey, New York, North Carolina, Tennessee and Washington.
The company has more than 6,700 slips which are complemented by a range of ancillary operations including fuel, boat rentals and service.
The company’s latest acquisition is F3 Marina, a 59,000sqft facility in Fort Lauderdale, Florida.
Delivering for customers
“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.
“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 US marina sector,” said James Wyper, senior managing director, head of US private equity and head of transportation and logistics at Stonepeak.
Boating experiences
Southern Marinas was previously owned by affiliates of private equity firm KSL Capital Partners.
“Over the course of our partnership with Southern Marinas, we helped the company expand its footprint to 15 marinas and built a scaled, institutional-quality platform centered on well-located marinas offering high-quality boating experiences,” explained Kirk Adamson, partner at KSL.
“We are proud of what has been built alongside the Southern Marinas team and are confident in the continued growth of the US marina sector.”
Additional terms of the transaction were not disclosed and the transaction has already closed.
