MarineMax to acquire IGY Marinas for $480M; expands global marina network

MARINEMAX INC

MarineMax (HZO) agrees to buy IGY Marinas for $480M cash, plus up to $100M earnout; expected close H1 FY2023.
IGY operates 23 luxury marinas across 12 countries with 4,700 berths and projected >$100M revenue in 2022.
Acquisition more than doubles MarineMax's recurring marina revenue, projected accretive within first 12 months.
New $1.35B credit facility finances the deal: $400M term loan, $750M floor plan, $100M revolver, $100M mortgage.
IGY CEO Tom Mukamal and current management to continue leading the business post-close.

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