MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, marina operator and superyacht services company, today announced a strategic partnership with NextBoat, Inc. (NYSE American: NXB), an AI-powered marine technology company. Through the partnership, MarineMax expects to broaden the distribution opportunities for its Newcoast Financial Services subsidiary by engaging with a larger network of boat buyers and transactions across the pre-owned marine marketplace.
NextBoat’s platform connects buyers, sellers and wholesale participants through AI-enabled valuation, marketing and transaction tools designed to improve marketplace efficiency. The relationship is expected to create an additional avenue for Newcoast to provide financing, insurance and related F&I products while expanding MarineMax’s participation in an even larger network of pre-owned marine transactions and marketplace participants.
“This partnership supports an important strategic objective for MarineMax to expand the reach of our higher-margin financing and insurance offerings,” said MarineMax Chief Executive Officer and President Brett McGill. “The scale and connectivity of the NextBoat platform provide a compelling opportunity to connect Newcoast’s financing and insurance solutions with a broader set of marine transactions and customers. We believe the relationship complements our existing retail and financial services capabilities while creating additional ways to serve boat buyers throughout their ownership journey.”
Jason Ruegg, Founder and Executive Chairman of NextBoat, said, “MarineMax has built one of the industry’s most comprehensive boating enterprises, combining retail, services and financial solutions. We believe this partnership demonstrates how technology can help connect buyers, sellers and service providers across the marine marketplace while creating a more seamless experience for participants throughout the transaction process.”
About MarineMax
As the world’s largest recreational boat and yacht retailer, marina operator and superyacht services company, MarineMax (NYSE: HZO) is United by Water. We have over 120 locations worldwide, including over 70 dealerships and 65 marina and storage facilities. Our integrated business includes IGY Marinas, which operates luxury marinas in yachting and sport fishing destinations around the world; Fraser Yachts Group and Northrop & Johnson, leading superyacht brokerage and luxury yacht services companies; Cruisers Yachts, one of the world’s premier manufacturers of premium sport yachts, motor yachts, and Aviara luxury dayboats; and Intrepid Powerboats, a premier manufacturer of powerboats. To enhance and simplify the customer experience, we provide financing and insurance services as well as leading digital technology products that connect boaters to a network of preferred marinas, dealers, and marine professionals through Boatyard and Boatzon. In addition, we operate MarineMax Vacations in Tortola, British Virgin Islands, which offers our charter vacation guests the luxury boating adventures of a lifetime. Land comprises 29% of the earth’s surface. We’re focused on the other 71%. Learn more at www.marinemax.com.
Forward-Looking Statement
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events and expectations and may be identified by the use of words such as “anticipate,” “believe,” “continue,” “could” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “should,” “will,” “would,” and similar expressions. These forward-looking statements include, among others, statements regarding the expected benefits of MarineMax’s partnership with NextBoat; opportunities for Newcoast Financial Services to provide financing, insurance and related F&I products through the NextBoat platform; the potential to expand engagement with boat buyers and transactions across the pre-owned marine marketplace; anticipated enhancements to the customer experience; and the Company’s long-term strategic objectives. These risks and uncertainties include, among others, the ability of the parties to successfully implement and maintain the partnership; the level of buyer, dealer and customer participation on the platform; market acceptance of the platform and related services; availability of financing; consumer demand; general economic conditions; competitive factors; and numerous other factors identified in the Company’s most recently filed Forms 10-K and 10-Q and other filings with the Securities and Exchange Commission. The forward-looking statements speak only as of the date of this press release and undue reliance should not be placed on these statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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