MarineMax, Inc. to Safe Harbor Marinas, LLC

Leisure/Aug 2026/Wells Fargo Securities

Deal Information

Target

MarineMax, Inc.

Acquiror

Safe Harbor Marinas, LLC

Sector

Leisure

Target Type

Public

Acquiror Type

Strategic

Advisors

Wells Fargo Securities

Enterprise Value

$1.5B

EV / LTM Sales

0.6x

EV / LTM EBITDA

12.4x

EV / Fwd EBITDA

8.3x

Comparable transactions cited by the advisor, excluding the subject transaction.

No precedent transactions are exposed for this fairness opinion yet.

Discount rate and terminal value assumptions the advisor selected for its discounted cash flow analysis.

WACC: 10.5% – 13.0%
Terminal method: Perpetuity growth
Terminal assumption: 2.0% – 3.0%
Forecast basis: MarineMax Projections (April 2026 Projections and measures derived from them)
Forecast period: three months ending 2026-09-30 through FY2028 (September fiscal year)

Advisor	WACC	Terminal method	Terminal assumption	Forecast basis	Forecast period	Filing
Wells Fargo Securities	10.5% – 13.0%	Perpetuity growth	2.0% – 3.0%	MarineMax Projections (April 2026 Projections and measures derived from them)	three months ending 2026-09-30 through FY2028 (September fiscal year)	Open