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ONEWATER OneWater Marine Inc. Signs Definitive Agreement to Acquire T - H Marine , a Leading Provider of Branded Marine Parts and Accessories for OEMs and the Aftermarket October 21 , 2021 Transaction Highlights : • Advances OneWater's growth and diversification strategy , expected to more than double the size of the services , parts & other sales , adding a highly complementary portfolio of marine parts and accessories • Provides opportunity to gain " share of wallet " with a more robust offering while enhancing profitability • Expected to be immediately accretive to top - line growth , operating margins and earnings per share BUFORD , Ga . , Oct. 21 , 2021 ( GLOBE NEWSWIRE ) -- OneWater Marine Inc. ( NASDAQ : ONEW ) ( " OneWater " or " the Company " ) announced today that it has entered into a definitive agreement to acquire T - H Marine , a leading provider of branded marine parts and accessories , for approximately $ 185 million . The transaction is expected to close in the calendar fourth quarter of 2021 . " With its comprehensive product portfolio , reputation for innovation , omni - channel sales strategy , and ability to acquire and integrate niche category leaders , we look forward to welcoming Jeff Huntley Sr. , and his team into the OneWater Marine family , " said Austin Singleton , Chief Executive Officer for OneWater . " We believe T - H Marine represents a strong , natural fit with our service , parts & other sales business and meaningfully increases our addressable market for marine parts and accessories . With a track record of increasing financial performance , we believe the addition of T - H Marine will further enhance our long - term growth strategy as we continue to scale the business and drive value to our shareholders . " Founded in 1975 , and headquartered in Huntsville , Alabama , T - H Marine has transformed from a predominantly OEM supplier of parts into an industry leading omni - channel marine platform . It serves the expanding aftermarket parts and accessories market through its e - commerce site , various marine and big box retail sites and marine distribution channels . The transaction will advance OneWater's growth and diversification strategy and is expected to more than double the size of its service , parts & other sales business with a highly complementary product portfolio of marine parts and accessories . " Our history of accretive acquisitions is not only complementary to OneWater's business model and growth strategy , but also provides an additional platform for expansion . We look forward to working with the OneWater team to scale the business through organic investments and acquisitional growth , " said Jeff Huntley Sr. , Chief Executive Officer for T - H Marine . " Joining OneWater will allow us to further enhance our strategy of acquiring and growing businesses to serve all of our aftermarket and OEM customers with even more amazing products . " The combination is expected to further reduce OneWater's exposure to the cyclical nature of new boat sales , providing the Company with a more robust and complete offering , at the same time , improving overall gross margins . OneWater will be using a combination of cash and approximately $ 7 million in stock to fund the acquisition . In conjunction with the transaction , the Company has received a commitment from Truist Securities to expand its current term facility by $ 200 million . The Company expects its net debt - to Adjusted EBITDA ratio to be in the range of 1.2x to 1.7x after the transaction . The closing of the transaction is anticipated during the fourth quarter of calendar 2021 and is subject to usual and customary closing conditions as well as regulatory review and approval . Stifel acted as the exclusive financial advisor to OneWater , while Truist Securities will be providing committed financing for the transaction . Citizens M & A Advisory is serving as the exclusive financial advisor to T - H Marine . Conference Call and Webcast One Water will host a conference call to discuss this transaction on October 21 , 2021 , at 8:30 am Eastern time . The conference call may be accessed by dialing ( 866 ) 220-5793 in the U.S./Canada or ( 615 ) 622-8064 for participants outside the U.S./Canada using the Conference ID # 3089348 . This call is also being webcast and can be accessed through the " Events " section of the Company's website at https://investor.onewatermarine.com/ where it will be archived for one year . About OneWater Marine Inc. OneWater Marine Inc. is one of the largest and fastest - growing premium recreational boat retailers in the United States . OneWater operates 71 retail stores throughout 11 different states , eight of which are in the top twenty states for marine retail expenditures . OneWater offers a broad range of products and services and has diversified revenue streams , which 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 . Investor or Media Contact : Jack Ezzell Chief Financial Officer IR@OneWaterMarine.com Cautionary Statement Concerning Forward - Looking Statements This press release may contain " forward - looking statements " within the meaning of the Private Securities Litigation Reform Act of 1995 , including regarding our strategy , our expectations with respect to the acquisition , future operations , financial position , prospects , plans and objectives of management , growth rate and its expectations regarding future revenue , operating income or loss or earnings or loss per share . In some cases , you can identify forward - looking statements because they contain words such as " may , " " will , " " will be , " " will likely result , " " should , " " expects , " " plans , "