Blackstone-backed Safe Harbor closes in on $1.5bn MarineMax acquisition

Blackstone-backed marina operator Safe Harbor Marinas is nearing an agreement to acquire US recreational yacht retailer MarineMax in a transaction valued at approximately $1.5bn, according to a report by Reuters.

The report cites unnamed people familiar with the matter as revealing that the potential deal would bring an end to a competitive sale process for MarineMax, which operates 65 marinas and storage facilities alongside about 70 dealerships, primarily across the US. The company serves a predominantly affluent customer base in the recreational boating market.

Safe Harbor is expected to offer around $53 a share in cash, representing a substantial premium to MarineMax’s $35.68 closing price on 7 August. The proposed price would put MarineMax’s equity value at approximately $1.17bn, while the company had $335m of long-term debt at the end of June.

An agreement could be announced as early as this week, although the sources cautioned that the transaction remains subject to final negotiations and could still encounter complications.

Safe Harbor, which is owned by Blackstone’s infrastructure business, emerged as the leading bidder after a process that also attracted activist investor Donerail and private equity firm Centerbridge.

The acquisition would represent Safe Harbor’s largest transaction since Blackstone Infrastructure acquired the marina operator for $5.7bn in April 2025. It would also significantly expand Safe Harbor’s footprint, adding MarineMax’s marina operations to a network spanning the US, Caribbean and Mediterranean.

Safe Harbor is expected to retain MarineMax’s various business lines as part of the transaction, according to the sources.