US Boat Wholesaler Planning to Go Public

Off The Hook Yacht Sales (OTHYS), a US supplier of used boats and yachts, is offering a pre-IPO investment opportunity at $2.50 per share. The company says it plans to go public at a target price of $5.00 per share by October 31, 2025.

Investors are also being offered a repurchase option as part of the investment structure.

OTHYS reports more than US$100m in annual revenue and claims to have completed over 3,500 transactions. Its business model centers on a strategy it calls “Marine Arbitrage” – the acquisition of distressed luxury yachts for resale at higher margins.

The company operates through a vertically integrated structure, with services ranging from financing and maintenance to repossession and resale. OTHYS says this integration allows for operational efficiencies and improved profitability.

According to OTHYS, the global luxury yacht market is valued at approximately $9.39bn and is forecast to grow to $13.29bn by 2030. OTHYS projects annual revenues of $239m by 2026, assuming continued expansion and successful execution of its strategy.

Details of the pre-IPO investment include:

• Share price: $2.50 per share
• Planned IPO price: $5.00 per share (targeted for October 2025)
• Protections: Includes a repurchase option to offer downside protection

OTHYS says it has identified several systemic inefficiencies in the luxury yacht resale market that it aims to solve, such as:

• Fragmented market: Independent dealers operate without standardization, leading to inconsistent experiences
• Financing gaps: High costs and limited loan availability present barriers for potential buyers
• Supply chain strain: A post-pandemic surge in demand has challenged supply and service capacity
• Underutilized assets: Many distressed or undervalued yachts remain unexploited

OTHYS’s outlines three core elements of its strategy:

1. Marine Arbitrage: Acquisition of distressed yachts for refurbishment and resale
2. Vertically Integrated Operations: Ownership of all parts of the transaction chain – from repossession to resale – intended to reduce costs and increase margins
3. Proprietary Technology: Use of an internal CRM system and a patent-pending platform for matching buyers and sellers, aimed at improving speed and pricing accuracy

Based in North Carolina, OTHS operates a network of affiliated businesses across the marine sector. This includes financing, service, repossession, and resale, all of which are vertically integrated to support its arbitrage-based strategy. The company is led by CEO Brian John, who has experience in taking companies public and managing mergers and acquisitions in the marine sector.