Suitors jostle to swoop for MarineMax

MarineMax owns superyacht brands Fraser Yachts and Northrop & Johnson.

Investment companies Blackstone, Donerail and Centerbridge are in the frame to buy the US yacht retail giant MarineMax.

The three firms are in the final round of bidding as MarineMax positions itself for sale, according to a report by Reuters.

Earlier this year, Donerail offered about $1.1bn for the company, significantly higher than its $661m stock market capitalisation.

The $35 per share all-cash offer “represents a viable path forward” MarineMax shareholder Levin Capital’s president Evan Ratner told us at the time.

Donerail, which owns a 5% stake in the company, is reported to have since increased its offer.

MarineMax operates more than 120 locations worldwide, including 65 marinas and storage facilities and more then 70 dealerships. It also owns IGY Marinas, superyacht brands Fraser Yachts and Northrop & Johnson, as well as Cruisers Yachts and Intrepid Powerboats.