SYM is a superyacht management company based in Golfe Juan, France.
The acquisition is expected to be accretive in its first full year and will strengthen MarineMax's position as a growing superyacht services provider. The company is already the world's largest recreational boat and yacht retailer.
The move marks a busy start to 2022 for MarineMax, who also had an eventful 2021. In May, they acquired the Cruisers Yachts brand, of which they already had a longstanding relationship. Then in November of 2021 they added Intrepid Powerboats to their growing portfolio.
SYM is being acquired by Northrop & Johnson, a superyacht brokerage and charter services business, which MarineMax acquired in 2020. SYM expands Northrop & Johnson’s service offerings by enabling it to enter the important yacht management business and more effectively serve its expanding base of superyacht clients, while also strengthening its new build construction capabilities.
W. Brett McGill, Chief Executive Officer and President of MarineMax, stated, "The addition of SYM complements MarineMax’s ongoing diversification into a higher margin and global business. By adding SYM, the Company strengthens its commitment to providing exceptional customer service experiences across all superyacht service offerings, including buying, selling, insuring, building, crewing, and chartering. We are very excited that Ben Young MBE, founder of SYM, and his team with their many years of invaluable yacht management experience will join forces with Northrop & Johnson.”