After a year of significant expansion across the superyacht sector and wider marine industry, MarineMax has released its 2022 financial results. The most significant recent acquisition came in August 2022 when it announced the purchase of IGY Marinas.  The deal was for a reported $480 million in cash, with an additional potential earnout of up to $100 million two years after closing, subject to the achievement of defined performance metrics.

This follows the acquisition of Northrop & Johnson and Fraser in 2020 and 2019 respectively.  Staking MarineMax’s claim as a dominant player in the brokerage and superyacht services business. MarineMax has now reported that revenue increased 7% to a record $507.9 million for the quarter that ended December 31, 2022, from $472.7 million in the comparable period last year.

According to a statement to the media, the growth was primarily driven by contributions from strategic acquisitions, including IGY Marinas which closed in October 2022. As a result of the current macroeconomic environment and ongoing supply chain challenges, same-store sales declined a modest 1% for the quarter, compared with an increase of 9% in the first quarter of 2022. 

Brett McGill, Chief Executive Officer and President MarineMax

Brett McGill, Chief Executive Officer and President stated, “Our team executed exceptionally…