ONEW - OneWater Marine to acquire T-H Marine for $185 million

T-H Marine is a Tier 1 boat accessory manufacturer that supplies products to virtually every boat manufacturer in the U.S. and abroad. The acquisition advances OneWater's (NASDAQ:ONEW) growth and diversification strategy, expected to double more than the size of the services, parts & other sales. The combination is likely to reduce OneWater's exposure to the cyclical nature of new boat sales, providing the Company with a more robust and complete offering and improving overall gross margins. The Company will be using a combination of cash and ~$7M in stock to fund the acquisition. In conjunction, the Company has received a commitment from Truist Securities to expand its current term facility by $200M. The Company expects its net debt-to-Adjusted EBITDA ratio to be in the range of 1.2x to 1.7x after the transaction. The closing of the transaction is anticipated during Q4'21 and is subject to necessary approvals. The purchase is

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OneWater Marine to acquire T-H Marine for $185 million