Safe Harbor Marinas continue expansion with purchase of LMC

Written by Francesca Webster

Over the last three years, Safe Harbor Marina have been gradually expanding their portfolio of U.S. based marinas, now over 110 marinas throughout the country. The latest marina to be added to their group is the Lauderdale Marine Centre (LMC), following the acquisition which was closed this week. The transaction is reported to have been valued at approximately $340 million, and follows the announcement in January that the company had purchased the two Rybovich marina and service centres in Florida.Lauderdale Marine Center shipyard Photo: Lauderdale Marine CenterBased in Dallas, Texas, Safe Harbor is the largest owner and operator of marinas in the world. The acquisition of the Fort Lauderdale marina adds another very well renowned refit marina to the company's roster, with its wet slip and dry storage infrastructure of 106 slipways.

Baxter Underwood, CEO of Safe Harbor, commented, “We are excited to bring Lauderdale Marine Centre and their talented team into the Safe Harbor family. LMC is now connected to our network of superyacht facilities at West Palm Beach, Riviera Beach, Old Port Cove, Charleston City, and Newport Shipyard and will help us further grow along the East Coast by providing a world class 60-acre service and repair facility for our members."

Following the purchase of the Rybovich marinas earlier in the year, their CEO Wayne Huizenga Jr. shared this statement; “We share with Safe Harbor a fundamental commitment to excellence in service and hospitality. We believe this transaction will allow us to deliver on that commitment at more and more locations over time.”Rybovich Superyacht Marina in West Palm BeachSafe Harbor now have more than 50 marinas able to service vessels over 24-metres, seven of which can accommodate yachts over 48-metres in length.

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