Investment firms Blackstone and Donerail are reportedly among the last remaining bidders looking to purchase MarineMax, a major recreational yacht retailer, according to two people with knowledge of the situation who spoke on Friday.
Those two firms, along with private equity group Centerbridge, have advanced to the final stage of the acquisition process for the Clearwater, Florida-based company, according to the sources, who were not authorized to speak publicly about the confidential proceedings.
MarineMax carries a market value of approximately $725 million and serves an affluent customer base through a network of 65 marinas and storage facilities along with 70 dealerships, the majority of which are located in the United States. The company has drawn considerable attention as marina investments have grown increasingly attractive to financial firms.
Donerail had previously pushed MarineMax to either sell the company or swap out its chief executive officer last year. That pressure came after Levin Capital urged company leadership and its board in 2024 to look at strategic options.
Spokespersons for MarineMax, Blackstone, and Donerail all declined to offer comment. A representative from Centerbridge had not responded to a request for comment by the time of publication.
The company has taken some steps to ease tension with unhappy investors — including making changes to its board of directors — but has never publicly confirmed it is conducting a formal sale process. That silence continued on Thursday when the company released its latest quarterly earnings report.
Reuters previously reported in February that Donerail had submitted an all-cash bid valuing MarineMax at roughly $1 billion. Donerail later raised that offer, and other buyout firms including Blackstone entered the competition after MarineMax formally began soliciting interest from potential buyers starting in April.
The broader marina and superyacht services sector has seen a surge in deal activity over the past year and a half, with investment companies playing an especially active role.
Reduced interest rates have helped affluent consumers continue spending on high-end purchases like yachts, even as people in lower income brackets face mounting financial pressure.
Blackstone, through its infrastructure division, purchased Safe Harbor Marinas in 2025 for $5.7 billion. Infrastructure investor Stonepeak separately acquired marina owner and operator Southern Marinas in April.
MarineMax shares were changing hands at around $33.30 each around midday Friday, reflecting a year-to-date gain of roughly 37%. Still, the stock remains at approximately half the all-time high it reached back in May 2021.
