Blackstone Infrastructure has agreed to acquire Safe Harbor Marinas, the largest marina and superyacht servicing business in the U.S., from Sun Communities for $5.65 billion. Safe Harbor owns and operates 138 marinas across the country and Puerto Rico, making it a key player in the boat storage and servicing industry. Blackstone sees strong growth potential in the marina sector, citing increased interest in travel and leisure as well as population growth in coastal areas. Heidi Boyd, Senior Managing Director at Blackstone Infrastructure, emphasized the company’s commitment to expanding Safe Harbor’s operations and investing in its existing marinas.
The transaction aligns with Blackstone Infrastructure’s strategy of investing in companies with strong market positioning. The firm has grown its managed assets by 40% year-over-year, reaching $55 billion as of December 2024. Its portfolio includes QTS, a provider of data centers in the U.S., and Carrix, the maritime port operators in North America. Wells Fargo served as the Lead Financial Advisor for the transaction, while Gibson, Dunn & Crutcher LLP, and Simpson Thacher & Bartlett LLP provided legal counsel.
