United States

Grande Yachts International

Following the recent announcement of the formation of the <a data-gid="gid://syiq/Company/6334" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Yacht Group (Company)">OneWater Yacht Group</a> (OWYG) by <a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">OneWater Marine</a> (OWM), SYT caught up with the Director of the new division, Tom George, to talk about his plans for the venture. <a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">OneWater Marine</a> has been on an extensive acquisition schedule, purchasing the <a data-gid="gid://syiq/Company/2771" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tom George Yacht Group (Company)">Tom George Yacht Group</a> in December, shortly before they acquired the <a data-gid="gid://syiq/Company/5586" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Roscioli Yachting Center (Company)">Roscioli Yachting Center</a> in Fort Lauderdale. With many American brokerage firms buying up smaller businesses, it's interesting to hear how <a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">OWM</a> are preparing for the future and expanding their already impressive remit. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/195708/image/large-98b60529a8f8728db23af2fd5894e39d.png" data-gid="gid://syiq/Photo/195708">Could you explain your background in the yachting industry and the foundation of your company,&nbsp;<a data-gid="gid://syiq/Company/2771" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tom George Yacht Group (Company)">Tom George Yacht Group (TGYG)</a>, before its acquisition last year?&nbsp;I started in 1988 with Gulfwind Marine. Gulfwind was a boat dealership based on the Florida west coast with locations in Tampa Bay, Sarasota, Venice and Fort Myers, primarily selling <a data-gid="gid://syiq/Company/5716" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sea Ray Boats (Company)">Sea Ray</a> boats and yachts. In 1998, the company merged with four <a data-gid="gid://syiq/Company/5716" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sea Ray Boats (Company)">Sea Ray</a> dealerships across the USA to form <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a>, and I was one of the founding partners with Chairman Bill McGill before we rolled it up and took it public.&nbsp;I was at <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a> for 20 years and became the top selling yacht and brokerage salesman as well as the top <a data-gid="gid://syiq/Company/466" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hatteras Yachts (Company)">Hatteras</a> salesman. Additionally, I was doing several large custom build yachts in the 40 to 50-metre range, with both the <a data-gid="gid://syiq/Company/149" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Christensen Shipyards, LLC. (Company)">Christensen</a> and <a data-gid="gid://syiq/Company/217" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Westport Yachts (Company)">Westport Shipyards</a> in the Pacific Northwest. In late 2008 and early 2009, <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a> began pulling their lines in to weather some very turbulent times and they wanted to minimise and get back to selling small boats. I left and went into business on my own to continue my relationship with my loyal database of clients who supported me throughout the years. I contacted my top clients and asked if I started my own firm would they stay with me and support my new venture. Each one stated “Tom we don’t care what hat you wear, as long as you continue to take care of us, we will follow”. This answered my question and I started my own boutique brokerage firm, the <a data-gid="gid://syiq/Company/2771" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tom George Yacht Group (Company)">Tom George Yacht Group (TGYG)</a> in Dunedin, Florida with my nephew Jimmy Rogers. We did exceptionally well and in 2013/2014 we became a dealer for Cobalt Boats, Edgewater Boats, <a data-gid="gid://syiq/Company/466" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hatteras Yachts (Company)">Hatteras Yachts</a>, Carver and Marquis Yachts, Everglades Boats and Invincible Boats. Within 10 years, we had 35 employees, had grown sales to around $50 million and opened a second store in Clearwater.I remained in touch with Anthony Aisquith, COO of <a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">OWM</a>, as we had worked together previously, and also with a number of the management team, as we watched each other grow. We would connect at boat shows and dealer meetings and <a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">OWM</a> and <a data-gid="gid://syiq/Company/2771" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tom George Yacht Group (Company)">TGYG</a> both started growing exponentially to record sales each year. I admired how <a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">OWM</a> was acquiring dealerships and maintaining the name and brand and not destroying the legacy dealerships had created over the years. Companies are built by the people and I felt if I ever sold, I would want the name to live on as well as the employees to remain. <img src="https://photo-assets.superyachttimes.com/photo/195781/image/large-2a89bdea4bcbc524848504013e8fd088.jpg" data-gid="gid://syiq/Photo/195781">So, what was it that finally encouraged you to join&nbsp;<a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">OneWater</a>?&nbsp;Just prior to the Covid-19 pandemic, we had been looking to offer our employees’ health benefits and 401k’s, but had been struggling to offer a competitive benefits package. Additionally, we had been searching for new boat lines as well as new store and marina sites. &nbsp;All of this was becoming very difficult as there were no marinas available and boat lines were being acquired by big houses with very large buying power. When we came out on the other side of the pandemic still running and sales took an unexpected jolt, <a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">OWM</a> made an offer I never dreamed I would see that was in the best interest of everyone, with a fantastic package for my employees and allowing me to keep everyone on board and stay at the helm myself. It relieved me of the personal liabilities with banks and allowed me to do what I do best, selling large yachts and helping two local stores continue to grow.&nbsp;When <a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">OWM</a> buys companies, 99% of the time they retain their name and autonomy which was very appealing to me. I had built a phenomenal team and made it a prerequisite that no one be let go ensuring everyone was taken care of with a top shelf benefit package.&nbsp;I also felt that as the pandemic came to a close, there would be a surge in demand that a smaller company like <a data-gid="gid://syiq/Company/2771" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tom George Yacht Group (Company)">Tom George Yacht Group</a> might not be able to meet due to a shortage of product. Predicting we would struggle to expand alone in the coming five years when you’re competing with big companies like <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a> and <a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">OneWater</a>, it also made sense to join the larger firm to ensure continuity for our clients and employees. That, combined with the fact I could retain my position and have the freedom to expand <a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">OWM</a>, made it a very attractive offer. <img src="https://photo-assets.superyachttimes.com/photo/195779/image/large-b461d330a052e74f9a12dafd0a409f3d.jpg" data-gid="gid://syiq/Photo/195779">Shortly after their purchase of&nbsp;<a data-gid="gid://syiq/Company/2771" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tom George Yacht Group (Company)">TGYG</a>,&nbsp;<a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">OneWater</a>&nbsp;bought&nbsp;<a data-gid="gid://syiq/Company/5586" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Roscioli Yachting Center (Company)">Roscioli Yachting Center</a>, can you tell me a little more about the motivations behind this partnership?When <a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">OWM</a> offered to buy us, I asked CEO Austin Singleton, what the plans were for servicing the yacht brands, and advised that we would need a high-end yard to service these brands. A month later, he informed me they bought <a data-gid="gid://syiq/Company/5586" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Roscioli Yachting Center (Company)">Roscioli Yachting Center</a> (RYC). I was amazed this acquisition happened so quickly as I believe it is one of the best shipyards in Fort Lauderdale. The deal closed 30 days after the <a data-gid="gid://syiq/Company/2771" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tom George Yacht Group (Company)">TGYG</a> sale closed and we were able to maintain the name, legacy and history of Bob Roscioli which I loved.&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/195707/image/large-de67fa31773c049f18d6b319a791d975.jpg" data-gid="gid://syiq/Photo/195707">Austin said “take it, run with it and make it work” so I am in the process of building up <a data-gid="gid://syiq/Company/5586" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Roscioli Yachting Center (Company)">RYC</a> with <a data-gid="gid://syiq/Company/6334" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Yacht Group (Company)">OneWater Yacht Group</a>, formerly <a data-gid="gid://syiq/Company/4990" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grande Yachts International (Company)">Grande Yachts</a>. &nbsp;We have rebranded <a data-gid="gid://syiq/Company/4990" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grande Yachts International (Company)">Grande Yachts</a> who have been selling <a data-gid="gid://syiq/Company/354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunseeker (Company)">Sunseeker</a>, <a data-gid="gid://syiq/Company/5729" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Absolute Yachts (Company)">Absolute</a>, <a data-gid="gid://syiq/Company/1399" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Riviera Yacht (Company)">Riviera</a> and Belize Yachts under the direction of Bryan Braley, and already have a sales facility in the shipyard with covered slips for all the yachts. It makes us unique to have such a large array of offered services and such a high standard of service available. We can haul up to a 150’ Tri-deck, paint a yacht from bow to stern and do just about any first-class refit with our own employees. I know of no other organisation in the USA that offers this with a full-fledged shipyard at their disposal for taking care of their clients 24/7, 365 days a year.&nbsp;As a sales advantage, our yacht brokerage team can now schedule haul outs, surveys and requested punch list work to get our new clients up and running sooner in lieu of long yard waits. All our <a data-gid="gid://syiq/Company/5586" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Roscioli Yachting Center (Company)">RYC</a> and <a data-gid="gid://syiq/Company/6334" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Yacht Group (Company)">OWYG</a> clients will have priority for service work and/or storage, including hurricane planning. <img src="https://photo-assets.superyachttimes.com/photo/195782/image/large-e6c4bbaeed15cd74fd7256f1e347a2ba.jpg" data-gid="gid://syiq/Photo/195782">Finally, looking at the&nbsp;<a data-gid="gid://syiq/Company/6334" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Yacht Group (Company)">OneWater Yacht Group</a>&nbsp;website, it is clear that they have taken your structure and branding from&nbsp;<a data-gid="gid://syiq/Company/2771" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tom George Yacht Group (Company)">Tom George Yacht Group</a>, how does this work?When we were purchased, <a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">OWM</a> wanted to retain the <a data-gid="gid://syiq/Company/2771" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tom George Yacht Group (Company)">Tom George Yacht Group</a> name for the new yachting centre of the company and the rebranding of the <a data-gid="gid://syiq/Company/4990" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grande Yachts International (Company)">Grande Yachts</a> name. I believe it is vital to have the <a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">OneWater</a> name out there for this division of the business, showing strength, size and growth over time. I felt it was time for the world to recognise who <a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">One Water Marine</a> is and making a statement of using the new name was exciting. The Tom George name will remain on my two original stores in Clearwater and Dunedin and that legacy will live on.We have used the compass rose from <a data-gid="gid://syiq/Company/2771" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tom George Yacht Group (Company)">TGYG</a>’s branding, which shows our clients we are pointing them in the right direction, and it is a clear sign we have retained our ethos. I want that same direction to pinpoint the compass rose for <a data-gid="gid://syiq/Company/6334" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Yacht Group (Company)">OWYG</a> and we're going to guide our clients, now with <a data-gid="gid://syiq/Company/5586" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Roscioli Yachting Center (Company)">Roscioli</a> by our side, offering a full range of services for all of their needs and giving our clients a new experience. It’s really fun continuing to work with my old team as well as the entirely new team at <a data-gid="gid://syiq/Company/6334" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Yacht Group (Company)">OWYG</a> and <a data-gid="gid://syiq/Company/6146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine Inc. (Company)">OWM</a>. It’s amazing the growth we have experienced in just a short period of time and there are so many more opportunities and partnerships coming down the water way. Life is good!&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/195876/image/large-32d8b8b0f27759b7db07a4b83e183c55.jpg" data-gid="gid://syiq/Photo/195876">

OneWater Yacht Group and their recent acquisitions

SYT sits down with director of the newly founded OneWater Yacht Group and their future in the U.S.