OneWater Marine reaches agreement to acquire Denison Yachting
This news of acquisition follows Denison Yachting's expansion into Europe at the tail end of 2021…
OneWater Marine (OneWater) and Denison Yachting have announced that an agreement has been reached for OneWater to acquire Denison Yachting. The deal is expected to be completed in OneWater’s fiscal third quarter.
“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,” says 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.”
OneWater’s acquisition of Denison Yachting is one of a number of high-profile brokerage acquisitions in recent years, of which the most notable was probably the acquisitions of Fraser and Northrop & Johnson by MarineMax. According to of OneWater, the acquisition of Denison Yachting will expand the company’s presence into the new build and superyacht brokerage sectors, as well as the ancillary yacht service offerings that come hand in hand with these foundational services.
“Strong consumer demand continues to fuel our growth and strengthens our position as industry leaders throughout the United States, Europe and the Mediterranean,” explains Bob Denison, President of Denison Yachting. “Denison’s team of experienced yacht brokers is unparalleled in the world of yachting. Their commitment to take 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.”
During Monaco Yacht Show 2021 Denison Yachting announced amongst other things that it would be opening its first European office in Monaco. The acquisition of Denison Yachting by OneWater signals the next step in the evolution of a business that has made its desire to expand and grow clear in recent years.
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