Recreational boats and yachts retailer MarineMax is reportedly preparing to sell itself, with the board of directors agreeing to proceed with a sale.
According to a report by Reuters news agency, one potential buyer has raised its offer and at least one private equity firm is currently conducting due diligence.
MarineMax investor Donerail, which owns a 5% stake in the company, has been pushing for a sale or a leadership change for several months.
Donerail itself is reported to have increased its initial offer and Blackstone Group, already a major investor in the marina industry, is also said to have expressed interest.
MarineMax was founded by Bill McGill who combined together with a team of American boat retailers to form the company. His son Brett McGill is currently chief executive officer.
Complete boating experience
The organisation’s business model is designed to provide customers with a complete boating experience including boat dealerships, marinas, superyacht and yacht concierge services, boat manufacturing and yacht charter.
MarineMax has 65 marinas and storage locations along with 70 dealerships.
The organisation, which is headquartered in Clearwater, Florida, also provides financing and insurance.
In its second fiscal 2026 quarter, MarineMax recorded revenues of $527.4 million, down from a record $631.5 million in the same period last year.
The gross profit margin was 34.4% reflecting strength in higher margin businesses.
Any potential sale is not guaranteed to take place. MarineMax has previously said it is evaluating the unsolicited Donerail proposal.
