IGY Marinas to Sell to MarineMax East for $480 Million
August 9, 2022
Cleary Gottlieb is representing Island Global Yachting LLC (IGY Marinas), which has entered into a definitive agreement to be acquired by MarineMax East Inc. (MarineMax East).
MarineMax East will acquire IGY Marinas for $480 million in cash, with an additional potential earnout of up to $100 million two years after closing, subject to the achievement of defined performance metrics.
IGY Marinas is the owner and operator of a collection of iconic marina assets and a yacht management platform in key global yachting destinations. It distinguishes itself with a synergistic network of strategically positioned luxury marinas situated in the world’s most coveted yachting and sport fishing destinations. IGY Marinas has pioneered best-in-class standards for service and quality in nautical tourism around the world. It offers a global network of 23 curated marinas in the Americas, the Caribbean, and Europe, delivering year-round customer touchpoints. IGY Marinas caters to a wide variety of luxury yachts, while also being exclusive home ports for some of the world’s largest megayachts. The network of marinas is further bolstered by its exclusive Trident superyacht membership program, expansive service offerings, and comprehensive yacht management platform. In addition, IGY Marinas is a venue for exclusive events such as the Cannes Yachting Festival, Cannes Lions International Festival of Creativity, Superyacht Miami, and Art Basel. IGY Marinas is unique in that its scale and strategic geographic footprint enables it to provide vertically integrated services to superyacht customers as they travel to popular destinations.
MarineMax East is the world’s largest recreational boat and yacht retailer.
For more information, please see the press release here.