MarineMax to Acquire Intrepid Powerboats

The world’s largest recreational boat retailer, MarineMax, has announced that it has entered into an agreement to acquire Intrepid Powerboats. Based in Largo, Fla., Intrepid builds semi-custom boats targeted to sportfishing, diving and for use as tenders.

According to a statement, Intrepid generated revenues in excess of $60 million over the last 12 months. MarineMax expects the acquisition to close before December 31 of this year and to be accretive in its first 12 months.

Forward Thinking

“The strategic acquisition of Intrepid Powerboats allows us to provide Intrepid with additional resources to expand and to enhance how it serves its extremely loyal customer base,” said Brett McGill, CEO and president of MarineMax. “We believe we can help grow the Intrepid brand by leveraging our digital technologies, capital and other resources. The accretive acquisition aligns with our long-term strategy of adding quality business to our portfolio and implementing best practices to support the expansion of our gross margins.”

Added Intrepid Powerboats president Ken Clinton, “We are excited to join the MarineMax family and to have access to their vast resources. The merger allows Intrepid to take all aspects of the business to the next level and that’s what we have always been about and why I am excited about the future with MarineMax.”

Majority shareholder and chairman of Intrepid, David Gilikin said, “There is no organization better suited to help guide Intrepid for the future than MarineMax.”