OneWater Marine completes acquisition of Denison Yachting
The acquisition of Denison Yachting is further proof that the market is likely to continue consolidating in coming years…
OneWater Marine has today announced that it has completed the acquisition of Denison Yachting. According to OneWater Marine, the addition of Denison Yachting to its portfolio will significantly expand its ability to complete superyacht sales, yacht charters and various other ancillary services, including yacht management and crew placement.
“We are thrilled to welcome Bob Denison and his team into the OneWater family, which expands and strengthens our presence in the superyacht and yacht categories,” comments Austin Singleton, Chief Executive Officer for OneWater. “As we move through the second fiscal quarter, we continue to capitalize on record demand and a growing backlog. Orders at the Miami Boat show were off the charts for both OneWater and Denison, which underscore our combined position as the premier marine retailer of choice from superyachts and yachts to traditional boat sales, parts, and service. We look forward to enhancing our leadership position in the market in the coming years.”
Including sales below 30m, in 2021 alone Denison Yachting closed 1000 deals and saw a 177 per cent increase in yacht charters. It has 21 offices globally, having recently made its first steps into the European superyacht market with the addition of an office in Monaco. The acquisition follows record-setting numbers by both companies at the 2022 Miami in February and Palm Beach Boat Shows in March, and further advances OneWater’s growth and diversification strategy, significantly bolstering its product portfolio and customer reach.
“Strong consumer demand continues to fuel our growth and strengthens our position as industry leaders throughout the United States, Europe and the Mediterranean. Denison’s team of experienced yacht brokers in unparalleled in the world of yachting,” explains Bob Denison, president of Denison Yachting. “Their commitment to taking incredible care of clients will be accelerated thanks to OneWater’s tools, resources, and support. We are excited to be joining the OneWater family, and we look forward to what our shared future holds.”
In recent years Denison Yachting has become known as one of the more forward-thinking superyacht brokerage houses within a market that has been traditionally tarred with the brush of conservatism. This reputation was supported by an announcement in March where it was reported that Denison Yachting, in partnership with Cloud Yachts, Gregory C Marshall and Delta Marine, had brought to market the first NFT superyacht new build project.
“When I first heard about the Gregory Marshall NFT new build project I knew I had to be involved as I feel this will be a ground-breaking project and implement a shift in the way yachts are built and sold. I immediately reached out to Greg and expressed my interest. Seeing the end result with his last project Artefact you can’t help but feel this will be equally epic,“ commented Alex Clarke of Denison Yachting at the time.
“Greg spent seven years as the mastermind behind ARTEFACT - which won every major award in 2021 - so I asked him, ‘where do you go from here?’ and he said, ‘the metaverse.’. That's all I needed to hear. I am beyond excited to help pioneer this revolutionary new build process with Gregory Marshall Naval Architects, Delta Marine and Cloud Yachts. I am optimistic Denison Yachting will play an important role in locating a buyer as excited to be part of the Project Metaverse experience as we are.”
The completed acquisition of Denison Yachting on the part of OneWater Marine is another example of the theorised market consolidation that many expect to continue apace in the coming years.
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