OneWater Marine Inc. Announces Strategic Relationship with Bradford Marine

OneWater Yacht Group and Bradford Marine to provide premium sales and service experience to yacht owners at the Roscioli Yachting Center

BUFORD, Ga., Oct. 03, 2023 (GLOBE NEWSWIRE) -- OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or the “Company”) announced today that it has entered into a strategic relationship with Bradford Marine (“Bradford”), in which OneWater completed a sale/leaseback arrangement of the Roscioli Yachting Center with Bradford Marine to provide world-class support for the OneWater Yacht Group and Sunseeker brands. Concurrently, Bradford Marine will acquire the service operation at the Roscioli Yachting Center and all of the related real estate. The proceeds from this transaction will be used to reduce the Company's long-term debt, as well as fund ongoing strategic M&A opportunities.

“This strategic relationship allows us to sharpen our focus on growing our Sunseeker Yacht sales, warranty and service operations, while also strengthening our balance sheet. Roscioli’s comprehensive yacht and mega yacht service offering is a natural complement to the highly regarded Bradford family of companies, and we look forward to a continued partnership for years to come,” said Austin Singleton, Chief Executive Officer for OneWater.

Roscioli Yachting Center is a full-service marina and yachting center located in Fort Lauderdale, FL, providing best-in-class services ranging from custom carpentry and fabrications, painting and refinishing, master mechanics and superior dockside hospitality, which will continue to be provided under the Bradford Marine name.

“We are proud to have acquired the Roscioli Yachting Center and to partner with OneWater on this transaction, and look forward to deepening our relationship with the Company in the years ahead,” said John Kelly, Chief Executive Officer of Bradford Marine. “We are excited about combining our adjoining properties and the expanded capabilities this transaction provides us, as we apply our customer focused philosophies, to change the yachting experience.”

About OneWater Marine Inc.

OneWater Marine Inc. is one of the largest and fastest-growing premium marine retailers in the United States. OneWater operates a total of 97 retail locations, 11 distribution centers / warehouses and multiple online marketplaces in 19 different states, several of which are in the top twenty states for marine retail expenditures. OneWater offers a broad range of products and services and has diversified revenue streams, which include the sale of new and pre-owned boats, finance and insurance products, parts and accessories, maintenance, repair and other services.