Monomoy Capital Partners is purchasing West Marine Inc. (Nasdaq: WMAR), a manufacturer of boating supplies and water gear materials, for approximately $338 million. West Marine will become a privately held company as a result of the deal.
Founded in 1968, West Marine operates more than 250 retail stores selling a variety of boating gear for power boaters, sailors, anglers, watersport and paddle-sport enthusiasts. The target distributes a variety of recreational and commercial boating supplies such as: fishing tools, spinning reels, tackle boxes, waterproof boots, gloves, hats, plow anchors, boat covers, life jackets, and boat seats. West Marine, based in Watsonville, California, reaches domestic and international customers through its e-commerce website and retail stores across the U.S. and Puerto Rico.