Stonepeak is in discussions to acquire Southern Marinas in a deal that could value the US marina operator at more than $700 million USD, according to a report by the Financial Times.
The report said Stonepeak could reach an agreement with KSL Capital Partners in the coming weeks, but no final decision has been taken. It added that the business may be valued between $700 million and $800 million.
Southern Marinas was founded in 2018 and owns and operates 15 marinas across the United States. Its properties are located in Florida, North and South Carolina, Tennessee, Kentucky, Missouri, Ohio, Washington, Idaho and New York.
Southern Marinas is owned by an affiliate of KSL Capital Partners, a private equity firm that invests in travel and leisure businesses, including hospitality, recreation, clubs, real estate and travel services. In 2021, Southern Marinas and KSL announced a partnership to acquire and operate a portfolio of marinas across North America.
Stonepeak, headquartered in New York, manages approximately $80 billion in assets and focuses on infrastructure and real assets.
Both Stonepeak and KSL Capital Partners declined to comment.
