Sail & Ski Cente has three locations in Austin and San Antonio
MarineMax is expanding in Texas, completing the acquisition of Sail & Ski Center, which has three locations in two of the states fastest growing markets of Austin and San Antonio.
“We are looking forward to combining best practices with Sail & Ski, especially in the towboat market and the parts and accessory area, which they do better than most,” W Brett McGill, CEO and president of MarineMax, said in a news release. “We operate with similar customer centric strategies, and we firmly believe that together we will be even stronger serving boating enthusiasts in the growing Texas market.”
Sail & Ski Center’s fiscal 2018 revenue topped US$40m for the company that was founded in 1969 and has consistently ranked in the Top 10 of North American boat dealerships. Sail & Ski was recognised as the top dealer in North America in both 2018 and 2010.
Buzz Watkins and Doug Malone, whose father founded the business, will remain as part of the management team and receive an undisclosed initial cash payment at closing, with options for “additional payments based on certain future performance metrics.”
Watkins, president of Sail & Ski, stated: “We have been long-time industry partners of MarineMax and have watched and admired their accomplishments over the years. We are excited about joining the MarineMax team. We believe access to their exclusive brands will further drive our growth. This strategic combination better enables Sail & Ski to grow and take advantage of new opportunities in the future.”