Specialty boating supplies retailer acquired

West Marine has gone private.



Monomoy Capital Partners announced Thursday that it has successfully completed the acquisition of West Marine for approximately $337 million, or $12.97 per share. The transaction was originally announced at the end of June.



Monomoy’s acquisition of West Marine marks the private equity firm’s third middle market investment of 2017, following its acquisitions of Klaussner Furniture Industries, and Friedrich Holdings in February. Monomoy acquired West Marine through its third fund vehicle, Monomoy Capital Partners III.



“We are excited to be joining forces with Monomoy Capital Partners to grow and improve our business,” said Matt Hyde, West Marine’s CEO. “This transaction ensures that West Marine can continue to offer outstanding value to our customers and provide a rewarding workplace for our associates.”



West Marine is the largest specialty retailer of boating supplies and accessories in the United States, with 249 stores located in 37 states and Puerto Rico. In addition to its retail stores and West Marine Pro wholesale divisions, the company serves boating enthusiasts in more than 150 countries worldwide through its mail order and e-commerce divisions.