MarineMax announced that it has entered into a definitive agreement to acquire Intrepid Powerboats (Intrepid), a leading manufacturer of powerboats. MarineMax expects the acquisition to close before December 31, 2021, and to be accretive in its 1st complete twelve-thirty day period period of time.

Intrepid Powerboats is identified as a entire world-course producer of custom-made boats, carefully reflecting the distinctive dreams of each and every particular person operator. Centered in Largo, Florida, Intrepid follows a immediate-to-client distribution product and created earnings in surplus of $60 million in the last twelve months. Intrepid has been given numerous awards and accolades for its improvements and superior-quality craftsmanship that make marketplace leading products in their categories.

“The strategic acquisition of Intrepid Powerboats makes it possible for us to offer Intrepid with added resources to broaden and to greatly enhance how it serves their really faithful purchaser base,” W. Brett McGill, Chief Executive Officer and President of MarineMax, mentioned. “We imagine we can help grow the Intrepid manufacturer by leveraging our electronic technologies, cash and other resources. This accretive acquisition aligns with our prolonged-term system of adding top quality organizations to our portfolio and employing best tactics to aid the expansion of our gross margins.”

“We welcome the seasoned, passionate and thriving Intrepid workforce. We know Ken Clinton and his management team very well, provided their successes in just our industry. The Intrepid administration group is identified amongst the greatest in our marketplace and we are fired up to have them be a part of our group whilst continuing to guide the functions of Intrepid,” McGill continued.

“We are psyched to be part of the MarineMax household and to have accessibility to their large methods. Individuals methods will help us proceed to lead the sector in innovation and bringing new product or service to market place,” Ken Clinton, president of Intrepid Powerboats, commented. “This option also will allow our Vice President of Gross sales, Alex Rizo, to have access to far better applications to enable enrich the product sales practical experience for our Dania revenue headquarters. We will now also have a national services design for our Vice President of Consumer Company, Joe Brenna, in get to guarantee all of our buyers go on to have 1st class buyer services. The merger permits Intrepid to get all factors of the business enterprise to the future level, and that’s what we have often been about and why I am psyched about the future with MarineMax.”

David Gillikin, Chairman of Intrepid Powerboats and bulk shareholder, mentioned, “I am very passionate about Intrepid Powerboats, the Intrepid group and our clients. There is no firm far better suited to assist guide Intrepid for the foreseeable future than MarineMax. I appear forward to lots of far more years as a faithful Intrepid boat operator though seeing the enterprise and workforce expand.”