By Svea Herbst-Bayliss
NEW YORK, July 24 (Reuters) – Investment firms Blackstone and Donerail are among the final bidders to acquire MarineMax, two people familiar with the matter said on Friday, as the recreational yacht retailer explores selling itself.
The two, as well as private equity firm Centerbridge, are in the final round of bidding for the Clearwater, Florida-headquartered company, said the sources who are not permitted to discuss private deliberations.
MarineMax, which has a market value of around $725 million, caters to a wealthy clientele through its 65 marinas and storage locations and 70 dealerships, mostly in the U.S. It has attracted significant interest at a time the marina business has become a popular investment area.
Donerail began pushing MarineMax to sell itself or replace its chief executive officer last year, intensifying pressure on the company after Levin Capital in 2024 urged management and the board to evaluate strategic alternatives.
Representatives for MarineMax, Blackstone, and Donerail declined to comment. A representative for Centerbridge did not immediately respond to a comment request.
The company has made some changes aimed at addressing concerns of disgruntled investors, including replacing board directors, but has never publicly acknowledged running a sales process including on Thursday when it reported quarterly earnings.
Reuters reported in February that Donerail submitted an all-cash offer which valued MarineMax at around $1 billion. Donerail subsequently raised its offer, while other buyout firms including Blackstone jumped into the mix as the company formally solicited buyer interest from April onwards.
Marinas and superyacht services have seen significant dealmaking in the last 18 months, with investment firms being particularly active.
Lower interest rates have supported high-end consumers’ spending on luxury items like yachts even as other economic brackets are forced to tighten their belts.
Blackstone, through its infrastructure arm, bought Safe Harbor Marinas in 2025 for $5.7 billion. Fellow infrastructure investor Stonepeak acquired marina owner and operator Southern Marinas in April.
MarineMax was trading around $33.30 per share around midday on Friday, putting year-to-date gains around 37%. However, it is still trading at roughly half the value of its lifetime high hit in May 2021.
(Reporting by Svea Herbst-Bayliss; Editing by David French and Sanjeev Miglani)
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