A private-equity firm that owns Airxcel, and backed Heartland RV before its sale to Thor Industries, will buy a marine aftermarket supplier.
L Catterton announced it would acquire West Marine from Monomoy Capital Partners. The transaction is expected to close in May. Terms of the deal were not disclosed.
West Marine is an omni-channel marine aftermarket platform, supplying aftermarket products and services to the boating, fishing, sailing and watersports markets.
L Catterton bought Airxcel in 2018. L Catterton invested in Heartland RV in 2007 before selling to Thor in 2010 – at the time the largest acquisition in Thor’s history.
West Marine was founded in 1968. The company has 237 physical locations across 38 states and Puerto Rico and two eCommerce platforms reaching domestic, international, and professional customers.
The companies stated West Marine will continue to optimize its industry-leading marine centers, fast track the advancement of its digital content, commerce, and community capabilities, and deliver remarkable value to customers with product expertise and an exceptional and differentiated consumer experience.
“As the established leader, West Marine is incredibly well-positioned in the marine aftermarket, and we are excited to support the company as it expands its omni-channel offerings and further cements its leadership across the country,” said Marc Magliacano, a managing partner in L Catterton’s Flagship Fund. “West Marine has moved beyond its heritage as a retailer and is a highly trusted marine specialist and resource for boating enthusiasts. By leveraging our firm’s experience building enthusiast brands, we will be able to accelerate West Marine’s advanced omni-channel capabilities and enhance its consumer engagement, while creating an industry defining digital experience.”
