A Dallas-based marina operator is merging with a rival to form the industry’s second most valuable marina company. Suntex Marina Investors LLC will combine...
Suntex and Westrec’s portfolio will include over 50 owned and operated marinas, not including other properties that Westrec manages.
Suntex Marina Investors LLC will combine with Westrec Marinas in a deal that puts together the nation’s second- and third-largest marina owners. Suntex is backed by New York-based private equity investor Centerbridge Partners, which paid $400 million for Westrec.Redmond said the deal had been in the works for over a year and involved thorough conversations about Westrec’s desire to sell to a firm that would be a good cultural fit.
The combined Suntex and Westrec portfolio will include over 50 owned and operated marinas, not including other properties that Westrec manages, he said.
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