Suntex and Westrec’s portfolio will include over 50 owned and operated marinas, not including other properties that Westrec manages.
Suntex Marina Investors LLC will combine with Westrec Marinas in a deal that puts together the nation’s second- and third-largest marina owners. Suntex is backed by New York-based private equity investor Centerbridge Partners, which paid $400 million for Westrec.Redmond said the deal had been in the works for over a year and involved thorough conversations about Westrec’s desire to sell to a firm that would be a good cultural fit.
The combined Suntex and Westrec portfolio will include over 50 owned and operated marinas, not including other properties that Westrec manages, he said.
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