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West Marine sold to private-equity firm

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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.

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