The Triton

News

West Marine sold to private-equity firm

ADVERTISEMENT

West Marine is being acquired by New York-based private-equity firm Monomoy Capital Partners for $12.97 per share, representing a total equity value of $338 million and a premium of 32 percent over the 30-day average performance of West Marine’s stock price reported on the Nasdaq.
In a statement released in late June, the companies announced that West Marine will be privately held following the transaction and will continue to be operated independently by the company’s management team.
The transaction, which was unanimously approved by West Marine’s board of directors, is expected to close in the third quarter of 2017, subject to West Marine’s stockholder approval and other closing conditions.

Related Posts...
Viking Crew US celebrated the opening of its office in Read more...
After 25 years with Jones Boat Yard on the Miami Read more...
Fraser’s crew recruitment agency, The Crew Network, now has a Read more...
Titan Marine Air has been appointed U.S. distributor for Italy-based Read more...
The Australian International Marine Export Group has a new CEO. Read more...

Share This Post

One thought on “West Marine sold to private-equity firm

  1. Conservative Sailor

    As if Worst Marine isn’t bad enough… corporate pirates are ruining our industry. Carlyle Group took over LMC and my hard rate jumped 53% once the ink dried on the contract.

Leave a comment

Your email address will not be published. Required fields are marked *

Please answer the question below to leave a comment. * Time limit is exhausted. Please reload CAPTCHA.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Editor’s Picks

Underway and over the top with Capt. Grant Maughan

Underway and over the top with Capt. Grant Maughan

A lifetime of experiences on land and at sea culminate as Capt. Grant Maughan summits Mount Everest in May. By Dorie Cox Capt. Grant …

‘Excellent’ waterways make for ‘great’ voyage into America’s Upper South

‘Excellent’ waterways make for ‘great’ voyage into America’s Upper South

By Lucy Chabot Reed The four-member crew of M/Y Sensation, a 112 Westport, took the vessel from Fort Lauderdale to Nashville, Tennessee, …

Renovation plans for Pier 66, The Sails take a step forward

Renovation plans for Pier 66, The Sails take a step forward

By a vote of 4-1, Fort Lauderdale city commissioners last night approved a development agreement with Tavistock Development Company, owners …

Charter offers M/Y Marcato crew shark ‘tails’

Charter offers M/Y Marcato crew shark ‘tails’

By Dorie Cox The crew of M/Y Marcato was integral to a scientific expedition that studied sharks during a charter by Dr. Austin …