MarineMax expands in Texas

MarineMax Pompano Yacht Center © MarineMax

MarineMax, Inc. (NYSE: HZO), the world's largest recreational boat and yacht retailer, today announced it has acquired the assets of Texas MasterCraft. Texas MasterCraft is a full-service Dallas, Texas area towboat dealer that operates primarily from two locations. The Dallas-area market is the largest towboat market in the United States. Texas MasterCraft generated revenue of over $45 million in 2020. The acquisition is expected to be accretive in its first full twelve months after the closing.

Texas MasterCraft is recognized annually as the largest MasterCraft dealer in the world. Jimmy Harvell launched Texas MasterCraft in 2001, after several years teaching as a waterski pro and working with various other Dallas area dealerships. The dealership benefits from a private lake it owns, which is used for various promotional events and customer demonstration purposes. Mr. Harvell and his team will continue to operate both locations with additional support and resources provided by MarineMax.

W. Brett McGill, Chief Executive Officer and President of MarineMax stated, "We have great appreciation and respect for Jimmy Harvell and his team and admire how effectively they operate their business. Our cultures and passion for customer service, as well as the boating lifestyle, are perfectly aligned. This strategic acquisition allows our existing Dallas area operation to join forces with those of the Texas MasterCraft team, creating the most powerful customer servicing dealership organization in the important north Texas towboat market. We welcome the Texas MasterCraft Team into the MarineMax family and are excited about our future growth."

Jimmy Harvell, President of Texas MasterCraft stated, "Our Team has always strived to provide the best service and the best experiences for our customers. Joining forces with MarineMax, whom we have known for many years, provides us with extensive resources to better serve our customers and this important market. We are excited about this partnership and the growth opportunities that it creates."