MarineMax acquires marine construction company
Recreational boat and yacht retailer, MarineMax, has acquired Midcoast Construction Enterprises (Midcoast Marine Group), a full-service marine construction company based on central Florida’s Gulf Coast.
“Midcoast Marine Group complements our growing marina portfolio and adds a valuable skillset to our expanding service offerings,” says W. Brett McGill, CEO and president of MarineMax. “Adding Midcoast Marine Group to the MarineMax family gives us the team and assets to cost-effectively manage our marina construction needs and market these services to third parties. We continue to successfully execute on our strategy to acquire well-managed, high-performing, and complementary businesses.”
Jack Fulford, who founded the Midcoast Marine Group in 2012, will continue to run the business, which specialises in heavy civil marine construction, including marina development, port berth facilities, commercial docks, and other related services. The acquisition includes the addition of waterfront real estate along the Anclote River in Tarpon Springs, Florida.
MarineMax has over 125 locations worldwide, including 78 retail dealership locations, some of which include marinas. Collectively, with the IGY acquisition, MarineMax owns or operates 57 marinas worldwide.
In October 2022, the company announced record results for its fourth quarter and full fiscal year ending 30 September 2022. Revenue grew over 16 per cent to a record US$536.8m for Q4 2022, from US$462.3m for the comparable quarter last year.
Main image: Pasadena Boardwalk constructed by Midcoast Marine Group.
