Hot off announcing its biggest annual revenues ever, MarineMax has made yet another acquisition.
The Clearwater boat and yacht retailer announced Monday that it has purchased Texas MasterCraft, a towboat dealer in the Dallas area, which happens to be the biggest towboat market in America.
Terms of the deal were not disclosed, but according to MarineMax, Texas MasterCraft generated more than $45 million last year alone.
“This strategic acquisition allows our existing Dallas-area operation to join forces with those of the Texas MasterCraft team, creating the most powerful customer servicing dealership organization in the important north Texas towboat market,” MarineMax president and CEO W. Brett McGill said in a statement.
Texas MasterCraft’s specialty is towboats, which pull water skiers and jetskis, though it also sells pontoons and other watercrafts. The company has two locations in the Dallas area, including one in Fort Worth near a 19-acre private lake used for demos and events.
“Joining forces with MarineMax, whom we have known for many years, provides us with extensive resources to better serve our customers and this important market,” Texas MasterCraft president Jimmy Harvell said in a statement. “We are excited about this partnership and the growth opportunities that it creates.”
Last week, MarineMax announced it had surpassed $2 billion in sales during its most recent fiscal year, ending in September. Over the last two years, the company has snapped up boat manufacturers, regional dealerships and other companies across the country, including Wisconsin’s Cruisers Yachts, Minnesota’s Nisswa Marine, Illinois’ SkipperBud’s, and superyacht broker Northrop and Johnson. In October, the company announced it was purchasing Largo’s Intrepid Powerboats.