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Against a backdrop of normalization in the North American marine market, OneWater Marine continues to adjust its business perimeter. The Georgia-based group has finalized the sale of its subsidiary Ocean Bio-Chem Holdings for $50 million.
Refocusing on the core business
With this sale, OneWater Marine confirms its intention to simplify its organization and concentrate its resources on its core activities, namely boat and marine equipment distribution. The sale of Ocean Bio-Chem is part of a long-term strategy aimed at improving the Group's visibility and financial flexibility.
The proceeds from the transaction will enable an early reduction in debt, with the aim of bringing the net debt-to-equity ratio below 4.0x by the end of the current financial year. This financial transaction is intended above all to strengthen the Group's investment capacity and cash flow.
Ocean Bio-Chem, a recognized player in marine maintenance
Based in Fort Lauderdale, Florida, Ocean Bio-Chem is well known in the nautical sector for its specialty chemical products for care and maintenance. The company markets the Star brite, Star Tron, Odor Star and Performacide brands, which are widely distributed through marine distribution networks.
In addition to its own brands, Ocean Bio-Chem is also developing manufacturing, blending and packaging activities for products sold under private label to various segments of the nautical and outdoor markets.
A recent acquisition, now closed
OneWater acquired Ocean Bio-Chem in June 2022, along with its subsidiary Star brite Europe. All of this was integrated into TH Marine Supplies, the Group's platform for parts, accessories and equipment, identified at the time as a complementary growth driver to boat distribution.
Less than four years later, the Group decided to leave this industrial perimeter, at a time when priority was being given to consolidating its historical businesses.
Adjusted financial outlook for 2026
For fiscal 2026, OneWater Marine expects like-for-like sales to be stable compared with the previous year, with sales of between $1.78 and $1.88 billion. Adjusted EBITDA is expected to be between $60 and $80 million, while adjusted diluted earnings per share are estimated at between $0.20 and $0.70.
These forecasts now take into account the exit of Ocean Bio-Chem, without modifying overall market assumptions for the coming year.
An illustration of boating market trends
The divestment of Ocean Bio-Chem illustrates a trend observed among several marine groups to refocus their business portfolios after years of strong post-pandemic growth. In a more selective market, debt control and concentration on high-visibility businesses are once again strategic priorities.
For the nautical sector, this operation is a reminder that industrial activities, even when recognized, are not always part of the long-term strategy of major distribution networks.
