OneWater Marina Acquires Stone Harbor Marina

OneWater Marine Inc. has reached an agreement to acquire the assets of Stone Harbor Marina, which will enhance the company’s presence in the northeastern U.S. and expand new and pre-owned boat sales, storage, service and repair, and finance and insurance offerings. The transaction is expected to close in the fiscal fourth quarter of 2021.

With more than a 50-year history of serving New Jersey’s boaters, Stone Harbor represents Pursuit, Everglades, Crownline, and Sportsman brands, while also offering factory trained technicians to deliver quality service for its customers. In addition, Stone Harbor maintains a large, in-water marina with wet slips, as well as rack storage. Stone Harbor generated approximately $35 million in sales over the past twelve months, from these offerings.

Tom Russell, Owner of Stone Harbor Marina, said, “We are thrilled to have the opportunity to join the OneWater network of dealerships. Stone Harbor has historically maintained a premium product portfolio and has a strong reputation for delivering superior customer service. Having access to OneWater’s digital platform, finance and insurance capabilities, and best practices, I believe we can take the business to new heights, maximizing new and existing revenue streams and overall operating efficiency. I couldn’t be more excited about this partnership and the opportunities that lie ahead for our team.”

OneWater operates 69 stores throughout 10 different states, seven of which are in the top twenty states for marine retail expenditures. OneWater offers a broad range of products and services and has diversified revenue streams, which include the sale of new and pre-owned boats, parts and accessories, finance and insurance products, maintenance and repair services, and ancillary services such as boat storage.