Safe Harbor Marinas Sails into Blackstone's Portfolio with $5.65B Deal
Deal News | Feb 24, 2025 | Blackstone
In a significant transaction within the infrastructure investment space, Blackstone has announced the acquisition of Safe Harbor Marinas for $5.65 billion. Safe Harbor, which is the United States' largest marina and superyacht servicing business, will be acquired from Sun Communities, Inc. This acquisition highlights Blackstone Infrastructure's strategy of investing in sectors with robust growth trajectories, such as travel and leisure. Safe Harbor owns and operates 138 marinas across the U.S. and Puerto Rico, positioning it at the forefront of the boat storage and servicing industry. Blackstone's move represents a broader momentum in its infrastructure division, which has seen a 40% annual growth rate, managing $55 billion of assets. Key figures in the transaction include Wells Fargo, which served as the lead financial advisor and provided financing, and legal support from Gibson, Dunn & Crutcher LLP and Simpson Thacher & Bartlett LLP. Blackstone Infrastructure's portfolio already includes market leaders like QTS, AirTrunk, and Invenergy, reflecting its investment focus on sectors experiencing long-term tailwinds.
Sectors
- Infrastructure Investment
- Travel and Leisure
- Financial Advisory
- Legal Services
Geography
- United States – The primary geographic focus of Safe Harbor Marinas, and where the acquisition transaction is taking place.
- Puerto Rico – Part of Safe Harbor's operational geography, which is included in the acquisition.
Industry
- Infrastructure Investment – This is the core industry involved, focusing on the acquisition and management of infrastructure assets such as marinas.
- Travel and Leisure – Relevant because marinas are part of the recreational and leisure industry, specifically in boating and marine activities.
- Financial Advisory – Involves the financial advisory services provided by Wells Fargo for the transaction.
- Legal Services – Includes the legal advisory roles played by Gibson, Dunn & Crutcher LLP and Simpson Thacher & Bartlett LLP.
Financials
- $5.65 billion – The transaction value of Blackstone's acquisition of Safe Harbor Marinas.
- $55 billion – The value of assets currently managed by Blackstone Infrastructure.
- 40% – The year-over-year growth rate of Blackstone Infrastructure.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Blackstone Infrastructure | Acquirer | Company | A division of Blackstone specializing in infrastructure investments. |
| Safe Harbor Marinas | Target Company | Company | The largest marina and superyacht servicing business in the U.S. being acquired. |
| Sun Communities, Inc. | Selling Company (Vendor) | Company | The company selling Safe Harbor Marinas to Blackstone. |
| Wells Fargo | Financial Advisor | Company | Served as the lead financial advisor and provided committed financing for the transaction. |
| Gibson, Dunn & Crutcher LLP | Legal Advisor | Company | One of the legal advisors for Blackstone Infrastructure in the transaction. |
| Simpson Thacher & Bartlett LLP | Legal Advisor | Company | Another legal advisor for Blackstone Infrastructure in the acquisition. |