Denison Yachting to be Acquired by OneWater Marine
OneWater Marine has announced that an agreement has been reached regarding its acquisition of American-based yacht broker, Denison Yachting.
Denison Yachting, a globally renowned superyacht sales company with over 70 years of yachting history and expertise, is planned to be acquired by American yacht and boat retailer, OneWater Marine, later this year.
As one of the fastest-growing premium retailers in America, OneWater Marine operates numerous boat and yacht dealerships across the USA. Offering a range of products and services, its acquisitions are recognised for developing and expanding businesses in attractive markets, whilst continuing to maintain brand identities.
The acquisition of Denison will see an expansion of OneWater’s presence in the superyacht industry, as well as yacht brokerage and ancillary yacht services, and is due for final completion in OneWater's fiscal third quarter. This acquisition will see the company expand its geographical footprint, adding 21 locations across seven states. For Denison, its capabilities in yacht brokerage and charter, as well as yacht management and crew services, will be developed with OneWater's expertise.
Denison Yachting’s President, Bob Denison, commented on the acquisition; ‘Strong consumer demand continues to fuel our growth and strengthens our position as industry leaders throughout the United States, Europe and the Mediterranean. 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.'
For Denison Yachting, 2021 was a particularly successful year, with the broker recording its sales in excess of $80 million. Its success has only continued this year, with record yacht and boat sales registered at the recent Miami International Boat Show for Denison as well as OneWater. Set to push this further, OneWater is aiming to advance both the stability and financial strength of Denison.
Chief Executive Officer of OneWater Marine, Austin Singleton 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. As we move through the second fiscal quarter, we continue to capitalize on record demand and a growing backlog. Orders at the Miami Boat show were off the charts for both OneWater and Denison, which underscore our combined position as the premier marine retailer of choice from superyachts and yachts to traditional boat sales, parts and service. We look forward to enhancing our leadership position in the market in the coming years.’
"We are excited to be joining the OneWater family and we look forward to what our shared future holds."