The sector’s two largest players, Safe Harbor and Suntex, weren’t even around six years ago. Now the two are making regular headlines with $10-plus-million acquisitions of marquee marinas and boatyards.
What were once local neighborhood marinas are becoming part of an international investment fund where city governments and local residents begin to lose control of their scarce and valuable waterfronts.
Flush with private-equity money, marina consolidations to build a global investment fund show no signs of slowing down.
As of this writing Suntex has 45 facilities. And counting.