What questions are answered or raised with the Rangers trade for LHP Aroldis Chapman? Suntex Marinas said to hire bank for IPO as soon as Q3 Should it make a public markets debut, Suntex will compete in part with Sun Communities Inc., which in 2020 acquired Safe Harbor Marinas and Sam Zells Equity LifeStyle Properties Inc., which counts marinas among its real estate holdings. Get the latest news from Steve Brown and the business staff. Legendary Marina is among the largest dry storage facilities in the United States with over 180,000 square feet of space to accommodate 780 vessels. Wall Streets Crystal Ball Shatters as Stocks Stage Big Rally, Sunaks Struggles, Water Woes and Pride: Saturday UK Briefing, Charting the Global Economy: US Inflation Cools, Europes Rises, China Names New PBOC Party Chief, Sets Stage for Governor Change, S. 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It has just been announced that Suntex and Westrec Marinas merged, . Amenities include unlimited in-and-out of water services; an exterior soap wash; complimentary engine flushes; waste pump-out; a fish cleaning station; ship store with refreshments, boating necessities and apparel; gasoline and diesel fuel; and on-site sales, service and parts. Be the reason someone smiles today. Dallas-based Safe Harbor Marinas remains the industrys biggest player, operating over 100 marinas nationwide, including seven in Texas. Alexandra has previously worked at the Oregonian in Portland, OR and The Gazette in Cedar Rapids, IA. We are committed to acquiring select locations with tremendous potential to offer guests once-in-a-lifetime experiences, CEO Bryan Redmond said in a statement. Suntex acquired Westrec in February to create a company with a combined value of $2.5 billion. Or sell your boat and start all over! Matthew is a business writer for The Dallas Morning News. The marina is about an hour from Key West, and its location gives boaters access to the Atlantic Ocean and Gulf of Mexico. ", "Our Suntex team could not be more encouraged regarding our partnership with Westrec," said Johnny Powers, Chairman of the Board, Suntex Marinas. You must be a subscriber and signed-in to access this content. ", "Since partnering with Suntex in March 2021, we have worked to help accelerate the Company's continued growth," said William Rahm, Senior Managing Director and Head of Real Estate at Centerbridge Partners and Director on Suntex's Board. This information is available in the PitchBook Platform. Mit Ihrer Anmeldung erklren Sie sich damit einverstanden, Inhalte von uns zu erhalten. Kind welcoming staff and dock masters for all their help and kindness! If you have an ad-blocker enabled you may be blocked from proceeding. Alternatively,REGISTER to receive IBI Daily News & Breaking News alerts for free. For more information on Suntex Marina Investors LLC, or the complete portfolio of Suntex marinas, please contact or visit www.suntex.com. Always giving me a warm welcome as well so helpful! Adding the Bahia Mar Yachting Center to our vast operational platform, led by Bryan Redmond, further establishes Suntex as the leading operator of premier marinas in the United States., Our entire team is committed to a set of core values which allow us to offer our visitors the best possible experience at world-class destinations, said Bryan Redmond, president of Suntex. He previously worked as a metro reporter at The Charlotte Observer and covered local government for the Tampa Bay Times. >> IBI Plus premium content, by Craig Ritchie2022-01-26T16:49:00, Marina operator adds Dallas-area facility to growing portfolio of US marina properties, Suntex Marina Investors confirmed its third marina acquisition in two months on Wednesday. Read the full policy here: https://epgmediallc.com/privacy-policy/, Suntex Marinas makes Bahia Mar investment, Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Tumblr (Opens in new window), Happy Fourth of July from Boating Industry, Yamaha expands propeller manufacturing facility, CA governor proposes 300% boat registration fee increase, Sailing Museum, National Sailing Hall of Fame name new executive director, Boating Industry Top 100: Top Dealers applications due Aug. 1, ORR celebrates industry action during Great Outdoors Month. Boating has seen a surge in popularity since the beginning of the COVID-19 pandemic as Americans turned to socially distant recreation options. One of the world's largest owner-operators of marinas and marine-related businesses, Westrec Marinas provides professional management services to its properties, affiliates and clients. October 15, 2019. We look forward to taking the reins and applying our industry-leading service to give visitors a once-in-a-lifetime experience., We could not be more excited to enter the Florida panhandle and Legendary Marina fits perfectly into our strategy of coming into a market with a best-in-class asset, said Chris Petty, Senior Vice President of Investments, Suntex Marinas. The Dallas-based real estate investment trust tapped Bank of America Corp. to helm a listing that could occur as soon as the third quarter, said one of the people, all of whom requested anonymity discussing the plans. !, I recently visited the Marina and was pleasantly surprised by the staffs excellent service. Dallas marina company acquires Westrec Marinas to create $2.5 billion marina powerhouse, https://www.linkedin.com/in/alexandra-skores-2125b6154/, National Marine Manufacturers Association also reported, Japanese retailer Daiso plots distribution center in DeSoto, Supreme Courts student debt ruling gives US consumers another headwind, Nike returns to NorthPark as lululemon makes plans. By using the any of our websites and/or making online requests of products, you agree to the terms and conditions of EPGs Policy. A city panel will score the bids and send the recommendation to the city commission for a vote. Suntex, led by Chief Executive Officer Bryan Redmond and Chairman Johnny Powers, in February acquired Westrec Marinas, am owner-operator of marinas. By signing up you agree to ourTerms of ServiceandPrivacy Policy. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The vision for the future growth of Suntex includes marina projects starting from the ground up. This Privacy Policy sets forth the privacy principles we follow, in accordance with our operations. This transaction kicks off a strategic relationship with Peter Bos and the Legendary Companies to bring further development and investment to the boating community in the near future., Your email address will not be published. Investments planned for the property include more dry storage, a new dock office, the ships store and a boat rental service, spokesperson Andrew Golden wrote in an email. 6:00 AM on Feb 3, 2022 CST A Dallas-based marina operator is merging with a rival to form the industry's second most valuable marina company. All rights reserved. Sign-in now at the top of this page. Suntex | Home - Suntex Marinas Publicly Traded Marine Companies; Featured Companies. Suntex Marinas Investors LLC, an owner and operator of marinas across the U.S. backed by Centerbridge Partners LP, has hired a lead underwriter as it prepares for a U.S. initial public offering . Matthew Griffin. Get the full list, Youre viewing 5 of 12 subsidiaries. Required fields are marked *. Why landlocked Dallas is emerging as an epicenter for marina buyouts from 8 AM - 9 PM ET. Major shake-up announced as Suntex Marinas and Westrec Marinas merge We understand that captains and their crews need rest time and we want them to enjoy their experience at the Bahia Mar as much as their guests, said Ron TenEyck, senior vice president, Suntex. Highfield Boats; Developing the right electric boating infrastructure is fundamental. Listen. PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. Marina Business Gets Lift From Pandemic Boat Sales - WSJ Suntex Marinas Taps Bank of America for U.S. IPO The companys portfolio includes marinas in California, New York, New Jersey, Florida, Texas and Georgia, among other states. We use cookies to allow us and selected partners to improve your experience and our advertising. www.suntex.com. Phone: (Bloomberg) Suntex Marinas Investors LLC, an owner and operator of marinas across the U.S. backed by Centerbridge Partners LP, has hired a lead underwriter as it prepares for a U.S. initial public offering, according to people with knowledge of the matter. Copyright 2023 Boating Industry Any transaction may value the company at more than $3 billion and is dependent on market conditions, the person said. Suntex Marina Investors LLC will combine with Westrec Marinas in a deal that puts together the nations second- and third-largest marina owners. What questions are answered or raised with the Rangers trade for LHP Aroldis Chapman? SUNTEX MARINAS ANNOUNCES TRANSACTION WITH WESTREC MARINAS - PR Newswire "Westrec's decision to combine forces with Suntex is proof that relationships, culture and integrity are paramount. Ocean View will be a full-service marina with a ships store, fuel dock, boat rentals and 165 dry-storage racks. For gas. Suntex acquires Legendary Marina | Boating Industry Unlimited access to all IBI Plus Premium content, including: Industry statistics /Market reports /Company insights /In-depth segment reports, Our archive of more than 38,000 news items and features, Save articles in your personal library under My Account. We are excited to introduce the professional Suntex operational experience to everyone using our facility.. Maybe its not quite as high as it was during 2020 or 21 going forward, but theres definitely going to be elevated demand.. Powerboat sales dipped in the first quarter of this year compared with 2021, according to the association, but were still higher than before the pandemic. This Privacy Policy sets forth the privacy practices with respect to your information when you use our software, mobile applications and services (Services) . The Dallas-based real estate investment trust tapped Bank of America Corp. to helm a listing that could occur as soon as the third quarter, said one of the people, all of whom requested anonymity discussing the plans. Please. Were not just a place where you store your boat, were a place where we provide you a great experience and we want you to keep coming back with your family and friends, Redmond said. Bahia Mar is also the home of the world-renowned Fort Lauderdale International Boat Show the countrys largest in-water show. Article Published by Bloomberg in April 2022, Sitemap | document.write(new Date().getFullYear()); Copyright 3 Feb 2022 | 13:15. . Suntex prides itself on a growing reputation in the marina industry for its commitment to superior customer service, experienced marina managers and staff, conscious contributions to marina communities and expansive enthusiasm for creating memorable experiences on the water. 4:37 PM EDT, Sat May 21, 2022 A A FORT MYERS, Fla. A developer was chosen by the City of Fort Myers council to move ahead in the process to redo the downtown Yacht Basin. Spending on recreational boating reached a high of $56.7 billion in 2021, up 12.7% from 2020, according to the National Marine Manufacturers Association. Written by Francesca Webster. You are responsible for regularly reviewing this Policy and any changes thereto. 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The provisions of this Policy apply to all such mobile access and use of mobile devices. The council voted and. If a green pivot is to happen, power grids must become supergrids, continent-spanning networks that can move green energy thousands of miles. , . Highfield Boats; Insight | Where tradition meets tomorrow By Mike Derrett, . !, After the 4th of July weekend, my family and I rented a pontoon boat. Suntex | About Us - Suntex Marinas Our goal is to provide you with an experience that delivers the information, resources and services that are helpful to you. Suntex Marinas preparing for IPO - International Boat Industry We approach each of our acquisitions as a unique opportunity to build upon the personality each marina has established since being built, said Bryan Redmond, CEO, Suntex Marinas. After buying The Wharf in Marathon, Fla., Suntex plans to put in a significant investment and reopen the marina under a new name, Ocean View Marina, the company said Friday. Earlier this week, it acquired Sunset Harbour marina in Long Island, New York. Kenny and I have appreciated the great working relationship with RCI Marine as a partner and manager of the Bahia Mar Yachting Center over the past five years; however, we are very excited to work closely with Suntex and affect a smooth, seamless and successful transition, said Jimmy Tate, president of Tate Capital. Suntex is backed by New York-based private equity investor Centerbridge Partners, which paid $400 million for Westrec. With first-class transient facilities now spanning the entire East Coast of the United States, Suntex added that it is poised to offer guests an unparalleled marina experience on the Atlantic Coast or Intracoastal Waterway. Read the full policy here: https://epgmediallc.com/privacy-policy/, Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Tumblr (Opens in new window), Happy Fourth of July from Boating Industry, Yamaha expands propeller manufacturing facility, CA governor proposes 300% boat registration fee increase, Sailing Museum, National Sailing Hall of Fame name new executive director, Boating Industry Top 100: Top Dealers applications due Aug. 1, ORR celebrates industry action during Great Outdoors Month. Boating is going to be down big time. "Suntex brings significant innovations and more streamlined tools and processes for daily operations. The city will not publicly release the bids until 30 days after they are received. Dallas-based Suntex Marina Investors, one of the largest players in consolidating the marina industry, is expanding its portfolio with a purchase in the Florida Keys. The transaction could value the company at more than US$3bn. Sign up to get PRNs top stories and curated news delivered to your inbox weekly! It sold for $2.11 billion in 2020 to Sun Communities Inc., a publicly traded real estate investment trust that owns or operates 426 manufactured home and RV communities in 33 states and Canada. Legendary Marina is among the largest dry storage facilities in the United States with over 180,000 square feet of space to accommodate 780 vessels. ", "We pride ourselves on having the most comprehensive and experienced marina operating team in the business," said Bill Anderson, President, Westrec Marinas. 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A Dallas-based marina operator is merging with a rival to form the industrys second most valuable marina company. !, Called the marina to ask about boat rentals and the boat club, and the staff was very helpful and knowledgeable. When typing in this field, a list of search results will appear and be automatically updated as you type. Suntex Marina Investors LLC will combine with. Following the posting of such non-material changes, your continued use of any EPGs websites will constitute your acceptance of these changes and you will be bound by such changes. We are proud of the work done by our teams at each one of these amazing Loggerhead properties, said Rich Carter, chief operating officer of Suntex. I think that demand is going to kind of stick around, Dennerlein said. Please disable your ad-blocker and refresh. Contact Us Advertising Info Subscribe Privacy Policy, EPG Media LLC wants you to have a positive experience in connection with our products and services. If our Policy changes in the future, we will notify our customers and website users of any such changes by posting an updated policy on our website. Great experience!, 2023 Suntex Marinas. The purchase allows Suntex to expand its foothold in the Keys, where the company has bought three other marinas in the past year. The second-largest . Become a business insider with the latest news. In order to achieve this goal, we may collect information from you. , . The National Marine Manufacturers Association also reported strong boat sales last year, with even higher expectations this year. We are excited for the opportunity to transform Ocean View into a boaters preferred marina.. She's a graduate of the University of Iowa. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Business Major shake-up announced as Suntex Marinas and Westrec Marinas merge. Found a factual error? Get the full list, Youre viewing 5 of 18 investments and acquisitions. It's wonderful to interact with such helpful and respectful young adults! Suntex, which is backed by private equity firm . Publicly Traded Marine Companies; Featured Companies. In the wake of SVBs failure, what is the future of tech start-ups? The property has six marine forklifts with the ability to lift boats up to 53-feet in length. Copyright 2023 Boating Industry En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. Suntex Marinas Taps Bank of America for U.S. IPO (Bloomberg) Suntex Marinas Investors LLC, an owner and operator of marinas across the U.S. backed by Centerbridge Partners LP, has hired a lead underwriter as it prepares for a U.S. initial public offering, according to people with knowledge of the matter. This Privacy Policy sets forth the privacy principles we follow, in accordance with our operations. Suntex Marinas announces third acquisition in two months Suntex, which is backed by private equity firm Centerbridge Partners, could, Suntex, which calls itself the largest standalone, pure-play owners of marinas in the U.S., announced last March a. Suntex was initially formed in 2015 by Johnny Powers, Bryan Redmond, Ron Rhoades and Scott McMullin, with anchor investments from funds affiliated with Wafra Inc. and Centaurus Capital. 12:28 PM on Aug 4, 2022 CDT From its landlocked spot in the middle of the country, Dallas is becoming the nation's hub for companies buying up places to store boats. business Real Estate Dallas-based Suntex buys new marina in Florida Keys with a plan to rebrand it After buying The Wharf in Marathon, the company will put in 'a significant investment' and. "Westrec Marinas' vision of offering the best in customer service and amenities, along with a memorable experience out on the water, align perfectly with our vision. He is a Duke University graduate. This is also one of the areas that we plan to expand upon to ensure our visitors will continue to appreciate the Bahia Mar Yachting Center as a world class venue. Suntex Marinas makes Bahia Mar investment | Boating Industry This Policy will be referenced by all such mobile applications or mobile optimized websites. Will lower-cost Humira pharmaceutical options soon be available to patients? The operational and financial improvements made at these properties over the last two-and-a-half years shows what it means to be a Suntex Marina, and we feel that each is on a sustainable path for many years to come. In addition, they have meaningful reporting and financial forecasting with real-time data, a more established communications and marketing effort, as well as additional capital to invest in repair and maintenance and capital expenditures for major projects at our current marinas. This divestiture and restructuring of the companys portfolio is intended to focus energies on wholly owned marinas in its portfolio and to create opportunities for geographic diversification. The Westrec name will be maintained as a third-party management platform. $200 is gas for the weekend to take the boat out is now going to run $500. We want you to know that we respect the privacy and security of our users. , , , , , , Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, SUNTEX MARINAS ANNOUNCES CEO BRYAN REDMOND SELECTED ENTREPRENEUR OF THE YEAR 2023 SOUTHWEST AWARD FINALIST BY ERNST & YOUNG. Already a subscriber? Three firms bid to redevelop Miami marina, one with $113M plan Alexandra Skores, Breaking Business News Reporter. By using the any of our websites and/or making online requests of products, you agree to the terms and conditions of EPGs Policy. Biscayne Marine. Contact Information Website www.suntex.com Ownership Status to gain access to IBI Plus Premium content. 2023 PitchBook. Redmond said the deal had been in the works for over a year and involved thorough conversations about Westrecs desire to sell to a firm that would be a good cultural fit. New York-based Centerbridge has been an investor in Suntex since March 2021. The Bahia Mar Yachting Center is the ultimate destination, offering 250 slips capable of handling vessels up to 300-feet along its 3,000-foot parallel dock and more than 5,000 feet of floating docks. To continue reading, please see the IBI Plus subscription options below for accessing our Premium Content. Together we have an unlimited opportunity to grow and prosper. We discuss our information collection practices below. We may offer you the ability to connect with our websites or use our applications, services, and tools using a mobile device, either through a mobile application or via a mobile optimized website. Suntex Marinas Announces Recapitalization led by Centerbridge and Suntex Marinas Company Profile: Funding & Investors | PitchBook Suntex marinas can include fuel, wet slips, dry storage, maintenance, rentals, boat clubs, houseboat vacations, lodging, convenience stores, restaurants, and many more ways to enhance your visit. By signing up you agree to ourTerms of ServiceandPrivacy Policy. With that said, we feel this is an excellent time for us to focus on what we do best which is the operation, redevelopment and acquisition of premier marina destinations., Your email address will not be published.