Blackstone, Donerail among final bidders for yacht retailer MarineMax, sources say

Donerail began pushing MarineMax to sell itself or replace its chief executive officer last year, intensifying pressure on the company after Levin Capital in 2024 urged management and the board to evaluate strategic alternatives.

Representatives for MarineMax, Blackstone, and Donerail declined to comment. A representative for Centerbridge did not immediately respond to a comment request.

The company has made some changes aimed at addressing concerns of disgruntled investors, including replacing board directors, but has never publicly acknowledged running a sales process including on Thursday when it reported quarterly earnings.

Reuters reported in February that Donerail submitted an all-cash offer which valued MarineMax at around $1 billion. Donerail subsequently raised its offer, while other buyout firms including Blackstone jumped into the mix as the company formally solicited buyer interest from April onwards.