Off The Hook Yachts Signs Definitive Agreement to Acquire the Apex Marine Group of Companies (APEX), Creating a Mega Service, Refurbishment & Sales Hub for Growing Global Customer Base

Core Insights - Off The Hook YS Inc. has signed a definitive agreement to acquire APEX, a premier marine service, storage, and sales organization in South Florida, enhancing its operational capabilities and inventory management [1][5] Group 1: Acquisition Details - The acquisition is expected to close in 60 days, pending customary due diligence, and will provide Off The Hook with four strategically located facilities in South Florida [1] - APEX's facilities include haul-out capability for vessels up to 150 metric tons and 130 feet, along with comprehensive in-house service teams for repair and refurbishment [2] Group 2: Operational Efficiency - The integration of APEX's capabilities is projected to generate millions in annual cost savings by reducing third-party service dependencies, transportation expenses, and turnaround times, while improving refurbishment quality [3] - This centralized approach allows Off The Hook to process more boats faster, standardize refurbishment quality, and scale inventory without proportional increases in overhead [3] Group 3: Strategic Vision - The new centralized campus will serve as a global mega sales destination, allowing international buyers to access a large inventory of aggressively priced boats in one location [4] - The acquisition is seen as a significant step towards transforming the used boat buying and selling process, enhancing operational dominance through unique infrastructure [5] Group 4: Brand Representation - The transaction includes representation of respected brands such as Pursuit, Solace, and Fountain, expanding Off The Hook's sales and service platforms [6]