Add-on Acquisition • Marine

Sun Communities Acquires Safe Harbor Marinas

On September 29, 2020, Sun Communities acquired marine company Safe Harbor Marinas for 2.1B USD

Acquisition Context
  • This is Sun Communities’ 1st transaction in the Marine sector.
  • This is Sun Communities’ largest (disclosed) transaction.
  • This is Sun Communities’ 2nd transaction in the United States.
  • This is Sun Communities’ 1st transaction in Texas.
Investment Fate
  • Safe Harbor Marinas was divested to a consortium of buyers in 2025 for 5.7B USD.

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M&A Deal Summary

Date September 29, 2020
Target Safe Harbor Marinas
Sector Marine
Buyer(s) Sun Communities
Deal Type Add-on Acquisition
Deal Value 2.1B USD
Advisor(s) Moelis & Co.
Citizens Capital Markets (Financial)
Sidley
Duane Morris (Legal)

Target Company

Safe Harbor Marinas

Dallas, Texas, United States
Safe Harbor Marinas owns and operates 101 marinas, manages five marinas on behalf of third parties, and has an approximate 40,000-member network of boat owners across 22 states. Safe Harbor Marinas was founded in 2015 and is based in Dallas, Texas.
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Buyer Overview 1

Buyer

Sun Communities

Southfield, Michigan, United States

Category Company
Sector Real Estate
Employees6,491
Revenue 3.2B USD (2024)
DESCRIPTION

Sun Communities owns, operates and develops MH and RV communities concentrated in the midwestern, southern and southeastern United States. Sun Communities is based in Southfield, Michigan.


Deal Context for Buyer #
Overall 2 of 3
Sector: Marine 1 of 1
Type: Add-on Acquisition 2 of 3
State: Texas 1 of 1
Country: United States 2 of 2
Year: 2020 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-22 Carefree Communities

Scottsdale, Arizona, United States

Carefree Communities, Inc. is an operator of destination RV parks and manufactured home communities.

Buy $1.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-15 Park Holidays

Bexhill-On-Sea, United Kingdom

Park Holidays is an operator of 25-holiday parks across the south of England. Caravan parks have a loyal and growing customer base which, combined with planning policies that restrict the development of new parks, results in a robust and resilient business model. Park Holidays was formed in 1984 and is based in Bexhill-On-Sea.

Buy £950M