GREAT BAY--Two of St. Maarten's major yachting facilities, Simpson Bay Marina and Yacht Club Isle de Sol, are on course to come under the ownership of Blackstone-backed Safe Harbor Marinas following a definitive US $1.5 billion agreement to acquire MarineMax Inc., the parent company of IGY Marinas.
MarineMax and Safe Harbor announced on Monday, August 10, that they have entered into a definitive agreement under which Safe Harbor will acquire all issued and outstanding MarineMax shares for US $53 per share in cash. The transaction represents an enterprise value of approximately US $1.5 billion.
MarineMax owns IGY Marinas, whose international portfolio includes Simpson Bay Marina and Yacht Club Isle de Sol in St. Maarten. If the acquisition is completed under its announced structure, MarineMax will become a privately held company and its businesses, including IGY, will fall under Safe Harbor, a Blackstone Infrastructure portfolio company.
The transaction represents a potentially significant ownership change for St. Maarten's yachting sector. Safe Harbor describes itself as a marina and superyacht service business and is regarded as the world's largest owner and operator of marinas. Blackstone's infrastructure arm acquired Safe Harbor in a US $5.7 billion transaction in April 2025.
Reuters reported earlier Monday, before the definitive agreement was announced, that Safe Harbor was nearing the MarineMax acquisition following a competitive bidding process that also included activist investment firm Donerail Group and private equity firm Centerbridge Partners in the final round.
According to Reuters, people familiar with the negotiations said Safe Harbor was expected to own and operate all of MarineMax's business segments. The acquisition would expand Safe Harbor's existing network, which already includes operations in the United States, Caribbean and Mediterranean.
The agreement brings to a conclusion, subject to shareholder and regulatory approvals, a months-long contest over MarineMax. Donerail increased pressure on the company in October 2025, publicly urging MarineMax to sell itself or replace Chief Executive Officer Brett McGill. MarineMax subsequently made several governance changes, including replacing board directors, and formally began soliciting buyer interest in April.
MarineMax said Monday that the transaction was the culmination of a competitive strategic review led by its Board of Directors and management with assistance from independent financial and legal advisors.
The US $53 per-share purchase price represents a 96% premium to MarineMax's US $27.03 closing share price on January 30, 2026, the final trading day before public disclosure of an unsolicited, non-binding proposal to acquire the company. It also represents a 110% premium to MarineMax's 90-day volume-weighted average price for the period ending January 30.
“We are pleased to have reached this agreement with Safe Harbor,” said Brett McGill, Chief Executive Officer and President of MarineMax. “Throughout this process, we have remained focused on maximizing value for our shareholders and positioning MarineMax for continued growth and success. I am proud of the strength of our differentiated, resilient and integrated model, loyal customer base, talented team and premium product portfolio. The scale of our combined platforms will help us enhance and expand our offerings, deepen our partner and customer relationships, and provide greater opportunities for our team.”
Safe Harbor CEO Baxter Underwood said the combination would expand the services available across the businesses.
“MarineMax has a talented team and deep relationships across the industry. By bringing together these two complementary businesses, we believe we can create greater value for boaters and an expanded service offering for the industry. We look forward to partnering with the MarineMax team to support their next chapter of growth.”
MarineMax Board Chairperson Rebecca White said the board unanimously concluded that the transaction was in the interests of the company and its shareholders.
“The transaction announced today is the result of careful consideration and negotiation by the Board and management. Following a thoughtful and comprehensive process, the Board unanimously concluded that this transaction is in the best interests of MarineMax and its shareholders, and that the transaction price represents compelling and certain value for MarineMax’s shares.”
The MarineMax board unanimously approved the transaction and is recommending that shareholders vote in favor of it at a special meeting to be convened for that purpose.
The acquisition is expected to close by the end of calendar year 2026, subject to customary closing conditions, including regulatory approvals and approval by MarineMax shareholders. Significantly, the closing is not subject to a financing condition.
Safe Harbor control of a considerably broader marine business than marinas alone. MarineMax operates more than 120 locations worldwide, including more than 70 dealerships and 65 marina and storage facilities.
Its integrated businesses include IGY Marinas; Fraser Yachts Group and Northrop & Johnson in superyacht brokerage and luxury yacht services; yacht manufacturers Cruisers Yachts and Intrepid Powerboats; financing, insurance and marine technology services; and MarineMax Vacations in Tortola, British Virgin Islands.
For St. Maarten, IGY is the central component of the transaction to watch. Simpson Bay Marina and Yacht Club Isle de Sol form part of an international IGY network serving the luxury yacht and superyacht market, an industry that is an important component of St. Maarten's tourism and marine economy.
The announced structure indicates that IGY is being acquired as part of MarineMax rather than being carved out ahead of the transaction. This would place the St. Maarten facilities within a much larger marina platform backed by Blackstone Infrastructure once the acquisition closes.
The immediate situation at the two marinas remains unchanged while the transaction moves through shareholder and regulatory approvals. The next significant questions for St. Maarten will be how Safe Harbor plans to integrate IGY into its global network, whether the IGY brand and existing management structure will be retained, and whether the new ownership will result in additional investment or strategic changes at the St. Maarten properties.
Join Our Community Today
Subscribe to our mailing list to be the first to receive
breaking news, updates, and more.
