Safe Harbor owns and manages 138 marinas in the United States and Puerto Rico and operates in the boat storage and servicing sector
Blackstone Infrastructure said it will pay 5.65 billion to NYSE-listed Sun Communities Inc US Dollars foracquiring Safe Harbor Marinas, the US leading manager of tourism ports and service activities for superyachts (Blackstone press release, Sun Communities statement and the deal presentation for the investors).
Wells Fargo financed the transaction and advised Blackstone Infrastructure who also retained Gibson, Dunn & Crutcher LLP and Simpson Thacher & Bartlett LLP for counsel. Sun Communities appointed Lazard Frères & Co, Latham & Watkins and Taft Stettinius & Hollister.
Safe Harbor owns and manages 138 marinas in USA and Puerto Rico and has a leading position in the sector of boat storage and servicing.
Heidi Boyd, a senior managing director of Blackstone Infrastructure, said: “Marinas benefit from important long-term thematic drivers, including the growth of travel and leisure and the influx of population in coastal cities. We believe Safe Harbor is the best positioned company in this sector and look forward to working with its fantastic team to invest in existing marinas and expand their presence.”
At the end of 204, the book value of Blackstone Infrastructure’s assets was of 55 billion and were in the sectors of energy, transports, digital, water, and waste management. Safe Harbour is the fund’s first deal in the marinas field.
