Following an initial statement at the beginning of March, the North American yacht and boat retailer has now successfully acquired Denison Yachting, ahead of its original planned completion date.
For OneWater, the addition of Denison to its portfolio is a significant advancement into the world of superyachting, with plans to expand superyacht sales, charter and ancillary yacht services, as well as yacht management and crew placement services.
As one of the largest and forward-thinking premium marine retailers in the US, OneWater currently operates across 75 retail locations, with multiple online marketplaces and distribution centres in 20 states, and will be looking to expand further in accordance with its latest acquisition.
Austin Singleton, Chief Executive Officer of OneWater Marine, stated: ‘We are thrilled to welcome Bob Denison and his team into the OneWater family, which expands and strengthens our presence in the superyacht and yacht categories. We look forward to enhancing our leadership position in the market in the coming years.’
Leading American and international broker, Denison, will benefit from additional developments in its service capabilities, company stability and financial strength, thanks to the added expertise from OneWater. As an authorised dealer for several prestigious brands, including Alpha Marine, Bertram and Numarine, the acquisition of Denison is expected to see immediate top-line growth, operating margin and earnings per share.
Bob Denison, Denison Yachting’s President, commented: ‘Denison’s team of experienced yacht brokers is unparalleled in the world of yachting. Their commitment to take incredible care of clients will be accelerated thanks to OneWater’s tools, resources and support. We are excited to be joining the OneWater family and we look forward to what our shared future holds.’