Georgia-based OneWater Marine (NASDAQ:ONEW) announced this morning that it has completed the acquisition of Roscioli Yachting Center, a full-service shipyard on the New River in Fort Lauderdale.
The Roscioli team includes over 100 skilled employees that provide services ranging from custom carpentry and fabrication to painting and refinishing. The yard generated revenues in excess of $15 million over the past 12 months, according to a statement from OneWater.
OneWater is a recreational boat retailer with 69 stores in 10 states. Its services include the sale of new and pre-owned boats, parts and accessories, finance and insurance products, maintenance and repair services, and ancillary services such as boat storage.
“Bob Roscioli founded Roscioli Yachting Center with the mantra ‘Today’s the Day’, which is echoed by the OneWater team,” said Austin Singleton, CEO of OneWater. “We are incredibly proud to welcome the Roscioli team to the OneWater family and to blend their industry-leading skillset with our proven strategic vision. Together, we believe we will redefine the gold standard of yacht servicing and customer experience.”
Mr. Roscioli, who founded and built the yard over the past 50 years, died in July. He had recently tested positive for COVID-19.
OneWater recently acquired Tom George Yacht Group and Walker Marine Group, two brokerage firms and dealerships in Southwest Florida. Its shares closed yesterday at $29.65.