US marina owner Suntex Marina Investors is to merge with marina management company Almar Marinas.
The merger will initially include the Californian marinas of Marina Del Rey Marina, Peninsula Yacht Marina, Bahia Marina, Westport Marina, and the management company.
The merger of four Oakland marinas is expected within the next 60 days, subject to government approvals.
Almar was founded in 1974 and operates coastal marinas on the west coast of the US.
The company’s portfolio consists of eight owned marinas across California – located between Marina Del Rey and Oakland – and another nine marinas managed on behalf of third-party owners in California and Hawaii.
“The values at the heart of Almar Marinas and their management team are also at the heart of our business practices here at Suntex,” explained Bryan Redmond, CEO, Suntex Marinas. “This merger just solidifies what’s most important to both of our companies, and we’re so lucky to join forces with the leading west coast network of marinas who understand our vision and are dedicated to building it together.”
Randy Short, Almar CEO, added: “Our philosophy at Almar is that a marina is not just a place for a boat to berth. It’s a complex set of diverse and interrelated activities designed to meet the needs of boaters and the public.
“Suntex absolutely knows this and practices those philosophies every day, which is why we’re so delighted to be working together toward a future where we all have a chance to create a quality resort-like experience that is safe, clean, secure and friendly for our customers and our communities.”
The Suntex portfolio includes marinas based in Arizona, California, Florida, Georgia, Illinois, Iowa, Kentucky, Maryland, Missouri, New Jersey, New York, Oklahoma, Texas, Tennessee and Virginia.
