MarineMax to be acquired by Blackstone Infrastructure affiliate for $53 per share

What happened

On August 9, 2026, MarineMax, Inc. (NYSE: HZO) announced it had entered into a definitive merger agreement to be acquired by SHM Holdco, LLC, an affiliate of Safe Harbor Marinas, LLC, which is a portfolio company of Blackstone Infrastructure Partners L.P.

Under the terms of the agreement, MarineMax shareholders will receive $53.00 per share in cash for each share of common stock they own, other than shares held by the company or by the acquirer.

The merger was unanimously approved by MarineMax's board of directors following a strategic review process. The board received a fairness opinion from Wells Fargo Securities, LLC.

MarineMax's stock rose sharply on the news, closing at $51.975 on August 10, up 45.67% from the prior close of $35.68, reflecting the near-completion premium to the offer price.

The transaction is expected to close by May 9, 2027, subject to shareholder approval, regulatory approvals including antitrust clearance, and other customary conditions. There is no financing condition for the buyer's obligation.

The filing

MarineMax filed a Form 8-K with the Securities and Exchange Commission on August 10, 2026, reporting the merger agreement under Item 1.01 (Entry into a Material Definitive Agreement). The filing also included Regulation FD disclosure under Item 7.01 and related exhibits under Item 9.01.

A Form 8-K is a current report that publicly traded companies must file to announce major events that shareholders should know about. Item 1.01 is triggered when a company signs a contract that is material to its business or financial condition, such as a merger agreement.

The filing attaches the full merger agreement as an exhibit and provides a summary of its key terms, including the per-share consideration, treatment of stock options and restricted stock units, termination fees, and no-shop restrictions on MarineMax.

What this means

This is a 'going private' transaction: MarineMax will become a wholly-owned subsidiary of the buyer and its shares will no longer trade on the New York Stock Exchange. Shareholders who do not tender their shares in the merger will be forced to accept the $53 cash payment after the closing.

The $53 offer price represents a premium of roughly 48.5% over the prior closing price of $35.68. The stock price on the day after the announcement ($51.975) is slightly below the offer price, which is typical because there is still a small risk that the deal could fail or be delayed.

The merger is subject to approval by a majority of MarineMax shareholders. The company has agreed not to solicit other acquisition proposals (a 'no-shop' clause), but the board can consider a superior unsolicited proposal under certain conditions, subject to a termination fee.

The buyer's equity commitment from Blackstone Infrastructure covers all funds needed to pay the merger consideration and fees, so there is no financing condition—meaning the buyer has already lined up the money.

MarineMax is the largest recreational boat retailer in the United States, with annual revenue of about $2.3 billion. The acquisition by Safe Harbor Marinas (which already owns a network of marinas) could create a combined boating services platform.