{"id":12731,"date":"2022-08-09T00:13:34","date_gmt":"2022-08-09T00:13:34","guid":{"rendered":"http:\/\/qik.ety.mybluehost.me\/?p=12731"},"modified":"2022-08-09T00:13:34","modified_gmt":"2022-08-09T00:13:34","slug":"igy-marinas-to-be-sold","status":"publish","type":"post","link":"https:\/\/caribbeantourismauthority.com\/staging\/1605\/igy-marinas-to-be-sold\/","title":{"rendered":"IGY Marinas to be sold"},"content":{"rendered":"
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Island Global Yachting LLC<\/strong>, known as IGY Marinas, is being acquired by MarineMax, Inc.<\/strong>, the world\u2019s largest recreational boat and yacht retailer.<\/p>\n

IGY Marinas owns and operates a collection of 23 iconic marina assets and a yacht management platform in key global yachting destinations, including St. Lucia, St. Maarten, St. Thomas, and Turks and Caicos<\/strong> in the Caribbean.<\/p>\n

MarineMax will acquire IGY Marinas for US $480 million<\/strong> in cash, with an additional potential earnout of up to $100 million<\/strong> two years after closing, subject to the achievement of defined performance metrics. The deal is expected to close in the first half of fiscal 2023.<\/p>\n

IGY Marinas will maintain its luxury branding<\/strong> that is well recognized as best-in-class in the global marina and superyacht communities.<\/p>\n

Tom Mukamal<\/strong>, CEO of IGY Marinas, and the IGY Marinas existing management team will continue to lead the growth and operations of the business.<\/p>\n

\u201cThe addition of IGY Marinas positions MarineMax as the preeminent leader in the superyacht industry \u2014 the only company able to offer an integrated experience coupling high-value superyacht berthing and marina services in premier locations with exclusive superyacht service offerings. Moreover, this investment continues to diversify our business mix with not only higher margins but also a larger geographic footprint, especially in highly desired destinations in the Mediterranean and the Caribbean,\u201d said W. Brett McGill<\/strong>, Chief Executive Officer and President of MarineMax.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Island Global Yachting LLC, known as IGY Marinas, is being acquired by MarineMax, Inc., the world\u2019s largest recreational boat and yacht retailer. 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