West Marine, an built-in, omni-channel supplier of aftermarket items and expert services to the boating, fishing, sailing and watersports markets in the U.S. introduced it has entered into a definitive agreement to be acquired by L Catterton.
L Catterton is the biggest worldwide consumer-targeted private equity company and has intensive experience setting up fanatic makes. Terms of the transaction had been not disclosed.
Established in 1968, West Maritime operates 237 actual physical locations across 38 states and Puerto Rico and two eCommerce platforms reaching domestic, global and skilled clients. In partnership with L Catterton, West Marine plans to proceed to extend its business-foremost shopper marine centers, rapidly monitor the development of its electronic written content, commerce and community capabilities for shoppers, and about produce value with product or service, knowledgeable advice and an exceptional and differentiated purchaser encounter.
“We are thrilled to be partnering with L Catterton in the following period of expansion for West Maritime,” mentioned Ken Seipel, CEO of West Marine. “The L Catterton group provides priceless buyer, manufacturer making and electronic enlargement knowledge to support us speed up our development designs. In partnership, we appear forward to enhancing our digital abilities and elevating our consumer working experience to not only supply the broadest product or service supplying in the marketplace, but to provide the most in depth and fulfilling consumer working experience no issue where or how our boaters choose to engage with us. We glimpse ahead to our new partnership with L Catterton.”
“As the recognized chief, West Marine is incredibly perfectly-positioned in the maritime aftermarket, and we are enthusiastic to support the Enterprise as it expands its omnichannel offerings and more cements its management across the country,” explained Marc Magliacano, handling lover at L Catterton. “West Maritime has moved further than its heritage as a retailer and is a really trustworthy maritime professional and resource for boaters and salt-water fans. By leveraging our individual experience setting up fanatic makes, we will be ready to speed up the advancement of West Marine’s highly developed omni-channel capabilities and boost its buyer engagement, when generating an business defining electronic encounter. West Marine will use its scale, item breadth, and pro area associates to produce on all the requires of people looking to have an fantastic on drinking water practical experience.”
“The U.S. marine aftermarket sector is a basically attractive class benefiting from favorable purchaser tailwinds like prolonged-expression development in boating use for leisure and time used with spouse and children, larger concentrate on out of doors way of living pursuits including water sporting activities and fishing, and the rise of boat sharing and clubs bringing a lot more men and women into the class,” claimed Matt Lischick, companion at L Catterton. “We hope the aftermarket to keep on its consistent secular growth based on the growing set up boat base and increasing boating participation. West Maritime stands out as the front-runner in the group and we glimpse ahead to partnering with Ken and his established management group to additional establish the Company’s authority as the go-to, buyer-centric maritime aftermarket player.”