MarineMax forms new technology business, purchases digital marketplace
The nation’s largest recreational boat and yacht retailer is creating a new technology subsidiary and completing the acquisition of an online boat and marine marketplace.
MarineMax, Inc. is formatting New Wave Innovations, a new business focused on investing in and growing technology-related products and services. The retailer will place Boatyard, an on-demand digital boating services platform it acquired in 2020, under the New Wave Innovations banner.
The Boatyard digital platform includes a range of on-demand services to streamline the boating experience by qualified service providers with a few clicks on a smartphone. Boatyard enables boat-owners to curate services and communicate with service providers.
MarineMax has also entered into a definitive agreement to acquire the remaining 75% in Boatzon, an online boat and marine marketplace, that it does not already own. The closing is expected in the company’s fiscal second quarter ending March 31, 2023.
Since making its initial investment in Boatzon in December 2021, MarineMax has been partnering with Boatzon to grow product capabilities and expand service offerings for consumers and marine dealers. Boatzon will operate as an independent company managed by co-founders Bryan Lenett, Michael Muchnick, and their team.
“Aligning our passion for boating with entrepreneurship and technology growth opportunities will advance our company’s strategic growth,” said Shawn Berg, executive VP, chief digital officer of MarineMax and president of New Wave Innovations. “We look forward to Bryan, Michael, and the entire Boatzon team joining the MarineMax family. The formation of New Wave Innovations is an incredible opportunity for MarineMax to partner with entrepreneurial technology companies seeking the resources and expertise to accelerate the growth of their businesses.”
“Innovation and technology have been at the forefront of our strategy to build an integrated company that is a leader in marine products, services, and experiences,” said W. Brett McGill, CEO and president of MarineMax. “We are excited about our ability to selectively invest in and grow businesses such as Boatyard and Boatzon. New Wave Innovations provides us with an exclusive technology growth engine to build on that success.”
Headquartered in Clearwater, Fla., MarineMax currently has over 125 locations worldwide, including 78 retail dealership locations, some of which include marinas. MarineMax also owns Fraser Yachts Group, a superyacht brokerage and luxury yacht services company with operations in multiple countries and MarineMax Vacations in Tortola, British Virgin Islands.