The Donerail Group Confirms Submission of Non-Binding Acquisition Proposal to Acquire All Outstanding Shares of MarineMax for $35.00 per Share
Acquisition Would Offer MarineMax Shareholders Immediate Value at a Meaningful Premium
LOS ANGELES, Feb. 03, 2026 (GLOBE NEWSWIRE) — The Donerail Group (“Donerail”) confirmed today, in response to media speculation, that it has submitted a non-binding indicative proposal to acquire 100% of MarineMax, Inc. (“MarineMax” or the “Company”) (NYSE: HZO) for $35.00 per share in cash. The proposal implies a total transaction value of approximately $1.1 billion, excluding floor plan financing, and represents a 38% premium over MarineMax’s 60-day volume-weighted average price of $25.45.1
“Our all-cash proposal to acquire MarineMax for $35.00 per share delivers immediate and certain value to MarineMax shareholders at a meaningful premium,” said William Wyatt, Managing Partner of Donerail. “We believe this represents a compelling opportunity for MarineMax investors to realize the full value of their shares in a single transaction. We have deep familiarity with the Company and the marine industry, and we are prepared to move expeditiously to begin confirmatory due diligence.”
Donerail is currently one of the Company’s largest shareholders, beneficially owning more than 4% of the Company’s outstanding shares, and has secured highly confident equity and debt support letters from leading global alternative investment firms, subject to confirmatory due diligence, to finance the acquisition of all remaining equity and refinance the Company’s existing indebtedness, excluding floor plan financing. Any definitive agreement is expected not to be subject to financing conditions.
Any transaction would be subject to satisfactory due diligence, negotiation and execution of mutually acceptable definitive documentation, approval by Donerail’s investment committee and other customary conditions. Donerail emphasizes that the proposal remains non-binding, and there can be no assurance that any transaction will result. Donerail does not intend to provide further updates unless and until appropriate and undertakes no obligation to do so.
Jefferies LLC is acting as financial advisor to Donerail, and Olshan Frome Wolosky LLP is acting as legal counsel.
About Donerail
Founded in 2018, The Donerail Group is a strategic, value-add investor and advisor that partners closely with management teams and boards to unlock shareholder value, combining hands-on engagement with creative capital solutions, bespoke transaction structures, and integrated M&A advisory to drive superior outcomes.
1 Source: Bloomberg. Volume-Weighted Average Price calculated over all trading U.S. trading days from November 5, 2025, to February 2, 2026.
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