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2017 March April Marina World

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  • Marinas
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THE CENTRAL PLATFORM FOR

THE CENTRAL PLATFORM FOR THE GLOBAL MARINA & YARD INDUSTRY MEET THE WORLD IN AMSTERDAM The Marina & Yard Pavilion (MYP) features the world’s largest concentration of equipment suppliers and serves as a meeting place for marina owners, operators, developers and suppliers from around the world. In 2017 the MYP will feature the Marina Symposium organised together with the HISWA Holland Association, offering the perfect platform to learn about and discuss the latest developments worldwide. Taking place as part of the world’s largest marine equipment trade show Exhibitors Marina &Yard Pavilion 2016: 64 Number of visits METSTRADE Show 2016: 23,700 The Marina & Yard Pavilion is an event of METSTRADE, the world’s leading platform for professionals in the marine equipment industry. ORGANISED BY POWERED BY OFFICIAL MAGAZINE SYP OFFICIAL MAGAZINE MYP OFFICIAL MAGAZINE

NEWS FOCUS One plus one equals three The story behind Safe Harbor Marinas The International Marina & Boatyard Conference (IMBC) was abuzz in January with news that Safe Harbor Marinas had recently acquired Brewer Yacht Yards, a group of marinas in New England. The question is: Who is Safe Harbor Marinas and where did it come from? Sarah Devlin investigates Based in Dallas, Texas, Safe Harbor Marinas is growing fast. The leadership team reads like a who’s who of the US industry, with partners from Marinas International and Flagship Marinas alongside Brewer Yacht Yard founders and the vice-chair of the US Superyacht Society. Since it was founded in late 2015 and debuted at IMBC 2016 the following January with 31 properties, this juggernaut has now purchased a total of 63 properties across 17 states in North America. All signs pointing otherwise notwithstanding, Safe Harbor Marinas isn’t an overnight success like a 1930s Hollywood ingénue discovered Above: Pier 121 Marina on Lake Lewisville is one of the most popular marinas in Texas offering over 1,000 wet slips and 800 dry storage options. It is a perfect example of the type of market leading marina in the Safe Harbor Marinas portfolio. in a local coffee shop. The founding investors, a San Francisco-based group called American Infrastructure MLP Fund (or AIM), studied marinas as an asset class for seven years before making its first move. And that move was a doozy. In roughly 18 months, Safe Harbor Marinas has doubled in size and, according to a Reuters report from late January, if AIM were to explore the possibility of an IPO, the company could now value between US0 million and US billion with a 12- month revenue of about US0 million for Safe Harbor alone. “When they made the decision to get into this business, they started with a lot of research, with right players,” Safe Harbor’s CEO Baxter Underwood stated. AIM purchased “five or six” properties, according to Underwood, to initially create Safe Harbor as a company. “They Jack Brewer Baxter Underwood did their homework. And, because of that, they entered the industry in a big way with several transactions at once.” Those initial transactions included Marinas International and Flagship Marinas, with Almar Marinas, the largest marina group in California, following close behind in April 2016. Many of the managers from those marina groups joined the Safe Harbor Marinas leadership team, including Marshall Funk – who was Safe Harbor’s initial CEO and now acts as Chief Strategy Officer – Gregg Kenney, Jeff Rose, and now Jack Brewer and Rives Potts from Brewer Yacht Yard. www.marinaworld.com - March/April 2017 21

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