OneWater Marine completes acquisition of Denison Yachting
US-based OneWater Marine has again expanded its portfolio by acquiring Denison Yachting, which expands its superyacht business and global reach.
Bob Denison, President of Denison Yachting
OneWater Marine Inc, one of the largest recreational boat retailers and yacht in the US, has completed the previously announced acquisition of Denison Yachting, one of the world’s leading superyacht brokers.
The buyout follows the purchases by US-based MarineMax, the world’s largest recreational boat and yacht retailer, of brokerage houses Fraser in 2019 and Northrop & Johnson in 2020.
OneWater Marine, a NASDAQ-listed company, owns over 30 dealers primarily based on the US east coast including its own OneWater Yacht Group, which represents Sunseeker, Prestige, Absolute, Riviera, Chris-Craft and Belize.
Denison Yachting, a family-founded and operated company based in Fort Lauderdale, operates 21 offices including eight throughout Florida and one in Monaco. In 2021, the company secured over 1,000 closings and increased charters by 177 per cent.
The addition of Denison Yachting significantly expands OneWater Marine’s capacity for superyacht sales, yacht charter and ancillary yacht services including yacht management and crew placement. The acquisition follows record-setting numbers by both companies at the Miami and Palm Beach show in February and March respectively.
Austin Singleton, CEO of OneWater Marine, said: “We are thrilled to welcome Bob Denison and his team into the OneWater family, which expands and strengthens our presence in the superyacht and yacht categories. As we move through the second fiscal quarter, we continue to capitalise on record demand and a growing backlog.
“Orders at the Miami show were off the charts for both OneWater and Denison, which underscore our combined position as the premier marine retailer of choice from superyachts and yachts to traditional boat sales, parts and service. We look forward to enhancing our leadership position in the market in the coming years.”
As well as being a superyacht specialist, Denison is also an authorised dealer for Beneteau (sailing yachts, Gran Turismo, Swift Trawler), Excess, Dufour, Van der Valk, Numarine, Bertram and Alpha.
Bob Denison, President of Denison Yachting, said: “Strong consumer demand continues to fuel our growth and strengthens our position as industry leaders throughout the United States, Europe and the Mediterranean.
“Denison’s team of experienced yacht brokers is unparalleled in the world of yachting. Their commitment to taking incredible care of clients will be accelerated thanks to OneWater’s tools, resources and support. We are excited to be joining the OneWater family and we look forward to what our shared future holds.”
The second and concluding part of an interview with Frabetti, who has stuck to his 2019 plan of doubling the number of Sunseeker models despite the challenges of the Covid period. Interview: John Higginson.