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MarineMax Completes the Acquisition of Intrepid Powerboats

CLEARWATER, Fla.--( BUSINESS WIRE )--MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, announced today that it has completed the acquisition of Intrepid Powerboats (Intrepid), a premier manufacturer of powerboats.

Intrepid Powerboats is recognized as a world class producer of customized boats, carefully reflecting the unique desires of each individual owner. Intrepid follows a direct-to-consumer distribution model and has received many awards and accolades for its innovations and high-quality craftsmanship that create industry leading products in their categories. Intrepid produced revenue in excess of $60 million during the last twelve-months.

W. Brett McGill, Chief Executive Officer and President of MarineMax, stated, “We are excited to add Intrepid Powerboats to the growing list of strategic acquisitions we have completed. Providing Intrepid with additional resources to enhance how it serves its loyal customer base, while leveraging our digital technologies and capital, will allow it to continue to innovate and grow. We are happy that Ken Clinton and the Intrepid management team have joined our family and will continue to operate the business.”

Raymond James Investment Banking Marine Team was the advisor for Intrepid Powerboats.

About MarineMax

MarineMax is the world’s largest recreational boat and yacht retailer, selling new and used recreational boats, yachts and related marine products and services, as well as providing yacht brokerage and charter services. MarineMax has over 100 locations worldwide, including 77 retail dealership locations, which includes 31 marinas or storage operations. Through Fraser Yachts and Northrop and Johnson, the Company also is the largest super-yacht services provider, operating locations across the globe. Cruisers Yachts, a MarineMax company, manufacturers boats and yachts with sales through our select retail dealership locations and through independent dealers. Intrepid Powerboats, a MarineMax company, manufacturers powerboats and sells through a direct-to-consumer model. MarineMax provides finance and insurance services through wholly owned subsidiaries and operates MarineMax Vacations in Tortola, British Virgin Islands. The Company also operates Boatyard, a pioneering digital platform that enhances the boating experience. MarineMax is a New York Stock Exchange-listed company (NYSE: HZO). For more information, please visit www.marinemax.com .

Forward Looking Statement

Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include Intrepid's continued innovation and growth and the management team's continued operation of the business. These statements are based on current expectations, forecasts, risks, uncertainties, and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, assumptions and uncertainties include the Company’s abilities to reduce inventory, manage expenses and accomplish its goals and strategies, the quality of the new product offerings from the Company’s manufacturing partners, the impacts (direct and indirect) of COVID-19 on the Company’s business, the Company’s employees, the Company’s manufacturing partners, and the overall economy, general economic conditions, as well as those within our industry, the level of consumer spending, the Company’s ability to integrate acquisitions into existing operations, and numerous other factors identified in the Company’s Form 10-K for the fiscal year ended September 30, 2020 and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Michael H. McLamb Chief Financial Officer

Media: Abbey Heimensen Public Relations MarineMax, Inc. 727-531-1700

Investor s : Brad Cohen ICR, LLC 203-682-8211 [email protected] Dawn Francfort 646-677-1859 [email protected]

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Q&A with Intrepid Powerboats president Ken Clinton

Intrepid Powerboats builds high-end semi-custom boats from 20 to 47 feet that are known for their innovative features. But, according to company president Ken Clinton, Intrepid’s designers can’t claim credit for all those innovations—most were born in the minds of Intrepid’s customers. On The Water spoke with Clinton about how Intrepid Powerboats builds some of the most coveted fishing boats on the market.

You have roots in the Northeast. Is that where your experience with boating began?    I grew up in Danielson, Connecticut. My father worked for General Dynamics in Groton, and at 19 years old, I was working there as a machinist, building submarines. Then I got married, and my wife and I went on our honeymoon to Florida. We left 10 inches of snow in Providence in February and walked out into the sunshine in St Petersburg. I just said, ‘This is it.  Let’s move.’ I found work at Triumph Yachts in Tampa installing engines. In 1991, I started as a boatbuilder at Intrepid and I’ve been here ever since.

As a direct-to-consumer boatbuilder, Intrepid does not have a traditional dealership network. How does this work for a boat buyer in the Northeast?

While we don’t have a dealership network, we have a sales partner in the Northeast at Hyannis Marina on Cape Cod, and we have relationships with marinas all over the world. When we started, we asked clients, “What is your local marina?” We’d then reach out to the marina, qualify them, and educate them. Now, after doing that for 30 years, we have an extensive network of partners all over the globe.

Our partners can properly service our boats. We have a process where they send a picture and quote a price, and we approve the work. We make sure to pay marinas immediately for any service work they do, which ensures that when there are multiple boats in the yard, our customers get serviced first because the marinas know they are going to get paid right away.

Intrepid builds gorgeous boats. What makes them great fishing boats?

It starts with our history. We went after the tender market in the late 1980s and early 1990s because we saw an opportunity. No other builders wanted to target that segment because tenders get absolutely punished, so the key was to build a boat strong enough to withstand that punishment. Tenders get dragged behind boats in 12-foot seas, so they must be overbuilt to survive. Once we started building tenders, we decided to build every boat that way—stronger, stouter. That hasn’t changed over the years; the only change we’ve made is to build our boats even stronger.

Any boat owner knows, and this is especially true in the Northeast, that you can leave in beautiful conditions, with a good forecast, and get caught in bad weather and rough seas. My job is to make sure that you get home safely – that our boats will always get you home if you are caught in a bad situation.

The other thing that has made our boats great fishing platforms is the way we custom-build them. I talk directly to every fisherman who is buying one of our boats. We meet face to face with each buyer, and he shares with us all his wants in a fishing boat. We hear everything, down to their theories on how to keep baitfish alive in a livewell. All this information is like gold and has shaped the way our boats are built. I’ve had owners say to me, ‘Ken, you’re an amazing designer,’ and I tell them, “It’s not me. Our customers are creating what we are building.”

Which of your boats has been most popular with fishermen?

The Nomad is definitely our fishiest boat. Looking at the 407 Nomad, there are two configurations.  We have the SE with a side entry to the head and a layout ideal for entertaining yet still with plenty of room for fishing, and an FE , which is a front-entry design that has an impressive amount of added space in the aft cockpit and beyond. Both models feature a large fuel capacity, so if you’re an offshore fisherman, you can go further and stay longer. There are great fishing features like two above-deck baitwells with viewing windows, and a massive fish box, or coffin box, under the forward lounge.

I can hear your excitement when describing the features of your boats. It sounds like you genuinely love your job.

Check out the full line-up of Intrepid Powerboats.

1 thought on “ q&a with intrepid powerboats president ken clinton ”.

In March I’ll be taking delivery of my 10th brand new Intrepid !

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Member News: MarineMax Acquires Intrepid Boats

By: MIASF Staff

Date posted: Nov 04, 2021 Thu

MarineMax announced in a statement that it entered into an agreement to acquire Intrepid Powerboats. Terms of the deal were not disclosed.   Headquartered in Largo, Fla., Intrepid builds a fleet of outboard fishing boats and other models from 24 to 47 feet. The company said its direct-to-consumer distribution model has yielded $60 million in revenue during the last 12 months.   MarineMax president and CEO Brett McGill said in the statement that the acquisition follows MarineMax’s strategy of “adding quality businesses to our portfolio and implementing best practices to support the expansion of our gross margins.”   “The strategic acquisition of Intrepid Powerboats allows us to provide Intrepid with additional resources to expand and to enhance how it serves their extremely loyal customer base,” McGill added. “We believe we can help grow the Intrepid brand by leveraging our digital technologies, capital and other resources.”   Intrepid president Ken Clinton said the deal will take “all aspects of the business to the next level,” including sales and customer service. “We are excited to join the MarineMax family and to have access to their vast resources,” Clinton said. “Those resources will help us continue to lead the industry in innovation and bringing new product to market.”   Added Intrepid chairman (and majority shareholder) David Gilliki: “There is no organization better suited to help guide Intrepid for the future than MarineMax. I look forward to many more years as a loyal Intrepid boat owner while watching the company and team grow.”

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Intrepid Boats History

Intrepid got its start in Opa-locka, Florida, eventually moving and expanding to two facilities in Florida: a manufacturing facility in Largo and a Sales Center in Dania. Intrepid Powerboats has been exceeding expectations since it first launched itself into the spotlight in 1983, with the introduction of its 30-foot open formed powerboat, the world’s first vessel formed with the Vacuum Bagging/Resin Infusion method. Pioneered by Intrepid, this method put the new company on the map by delivering greater strength and rigidity while shedding 20 to 40% of the weight in boats built with traditional materials and techniques.

Intrepid’s artisans have continually offered new innovations over its 30 year-history, such as incorporating hand-laid, uni- and multi-directional fiberglass fabrics and Kevlar construction process for a lighter, stronger hull and more fuel-efficient ride, and powering their entire 14 vessel line-up by outboard motors. By using an external propulsion force, Intrepid is able to perform maintenance and make repairs to their engines swiftly and effortlessly, resulting in less time spent off the water. In 2011, Intrepid formed a partnership with Seven Marine, maker of the world’s most powerful outboard motors, to produce the  327 Center Console Tournament Edition Fishboat. Intrepid continues to practice leadership through innovation, producing versatile fiberglass vessels completely customized for diving, fishing, or cruising – whatever use their owners can imagine!

Are you ready to experience the difference total customization makes? Atlantic Yacht and Ship has two pre-owned Intrepid boats waiting for new owners:

47′ Intrepid 475 Sport Yacht 2007 New to Market! Stored since new in a state-of-the-art indoor facility, this 2007 sharp-looking 47′ Intrepid 475 Sport Yacht is in exceptional condition. She is built with the integrity and seaworthiness that Intrepid is known for, with spacious and comfortable accommodations below. This is currently the only Intrepid 475 on the market with the “Plan B” layout, which has two staterooms. She even has underwater lights so you can cruise after dark in style!

32′ Intrepid 323 Cuddy 2005 This 32′ Intrepid 323 cuddy wears her “Chicago Bulls Red” paint proudly, courtesy of her original owner, Scottie Pippen. Built in 2005 and rack stored since new, she has been lovingly maintained, is in excellent condition, and shows very nicely. A convenient L-shaped seating arrangement is forward of the helm, and the owner just repainted the engines and installed a new eisenglass helm enclosure. She is ready to take you on your next fishing adventure with rod holders throughout the aft cockpit gunwale and helm seat, cockpit lighting, on-deck fresh water wash, and more!

Atlantic Yacht and Ship ‘s knowledgeable South Florida yacht brokers are waiting to help get you out on the water in the vessel of your dreams. Whether you are seeking yachts for sale , or are a boat or yacht owner looking to sell or trade, Atlantic Yacht & Ship has the experience and connections to help you realize your goals. Browse our extensive listings of new and preowned motor yachts , or call us directly at 1-888-230-0439 and we will help you locate your ideal vessel.

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From legendary center consoles to luxurious cuddy/walkarounds and sport yachts, Intrepid pre-owner powerboats offer unparalleled levels of quality, performance, and customer support.  

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Once you receive your Intrepid, you become a member of Intrepid Nation , a family of owners who enjoy a level of customer support as legendary as the boats themselves.  

Whether it’s the first day you step aboard or 20 years and 20,000 nautical miles later, you can count on us to go the extra nautical mile with anytime, anywhere customer care for as long as you own your Intrepid.  

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VESSEL REVIEW | Sinichka – Electric commuter boats designed for Russia’s Moskva River

A series of three new electric monohull commuter ferries have already begun operational sailings on the Moskva River in the Russian capital Moscow.

Built by Russian shipyard Emperium, sister vessels Sinichka , Filka , and Presnya – all named after rivers in Moscow – are being operated by the Moscow Department of Transport and Road Infrastructure Development (Moscow Deptrans). They are the first units of a planned fleet of 20 vessels that will serve the capital city and other nearby communities. The new ferry system will be the water transport system to be operated on the Moskva River in 16 years.

Each vessel has a welded aluminium hull, an LOA of 21 metres, a beam of 6.2 metres, a draught of only 1.4 metres, a displacement of 40 tonnes, and capacity for 80 passengers plus two crewmembers. Seating is available for 42 passengers on each ferry, and the main cabins are also fitted with USB charging ports, wifi connectivity, tables, toilets, and space for bicycles and scooters. The cabin layout can be rearranged to allow the operator to adjust the distances between the seats and to install armrests of varying widths.

An open upper deck is also accessible to passengers and is the only area on each ferry where smoking is allowed.

The ferries are all of modular construction with each ferry’s wheelhouse, main cabin, and other structural elements being built as complete, separate components. This enables the ferries to be easily dismantled for transport to anywhere in Russia by rail and then quickly re-assembled within seven days.

The ferries are also ice-capable. Recently completed operational trials on the Moskva showed that the vessels can also easily navigate under mild winter conditions with broken surface ice, though year-round operations are planned for the entire fleet.

The ferries are each fitted with 500kWh lithium iron phosphate battery packs that supply power to two 134kW motors. This configuration can deliver a maximum speed of 11.8 knots, a cruising speed of just under 10 knots, and a range of 150 kilometres.

Emperium said the transfer of rotation of electric motors to the propeller is carried out by direct drive. As a propulsion installation, a pulling rotary propeller-steering column with double screws is used. The installation of double pulling screws, with similar power, allows an operator to increase the efficiency of the propulsion system to deliver a slightly higher speed or to reduce energy consumption. This arrangement also provides the ferries with enhanced manoeuvrability necessary for navigating in close quarters.

The batteries themselves have projected service lives of 10 to 12 years and are fitted with safety features such as built-in fire extinguishers and gas vents. Quick-disconnect features allow the batteries to be easily removed for replacement or maintenance.

Some of our readers have expressed disquiet at our publication of reviews and articles describing new vessels from Russia. We at Baird Maritime can understand and sympathise with those views. However, despite the behaviour of the country’s leaders, we believe that the maritime world needs to learn of the latest developments in vessel design and construction there.

Click here to read other news stories, features, opinion articles, and vessel reviews as part of this month’s Passenger Vessel Week.

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Tags: Emperium Filka Moscow Moscow Department of Transport and Road Infrastructure Development Moskva River Presnya Russia Sinichka WBW newbuild

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Intrepid’s endless array of sportfishing features include extra-large rod holders, macerated fishboxes, pressurized lighted baitwells with windows, self-bailing cockpit drainage systems, and flip-up transom bench seats that make room for fishing.

Dive boat options include tank racks and storage compartments. Safely positioned away from props, our signature, swing-in hullside dive doors and hullside hydraulic swim platforms feature fold-out stepladders with grab bars that let you get in and out of the water with extraordinary ease.  

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Intrepid is the World’s #1-Selling Yacht Tender because it combines custom luxury, versatility, and style, with the unparalleled durability of boats built to withstand the pounding and stresses of being towed behind a yacht over even the longest of hauls.

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A decades-long record of quality and reliability has made Intrepid a leading boatbuilder for federal, state, and local law enforcement agencies, including Sheriff Departments, Police Departments, and Departments of Natural Resources around the country.  

Fast, tough, dry, and safe, each one is custom equipped to meet specific needs. Is it any wonder our powerboats are heralded as the very best?

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