News

12/18/2018

Dickinson Williams advises on the sale of City Marina Company

Dickinson Williams & Company served as the exclusive financial advisor to The Beach Company and its partners in the sale of City Marina Company located in Charleston, South Carolina. The buyer, Safe Harbor Marinas, is the world’s largest owner and operator of marinas, and is a portfolio company of American Infrastructure Funds and Koch Industries.

“Dickinson Williams has truly enjoyed working with City Marina Company and its owners, and we look forward to seeing the company’s growth plans being fully realized under Safe Harbor’s ownership,” said Harold Williams, Managing Director of Dickinson Williams & Co.

Robbie Freeman, Managing Partner of City Marina Company said, “We are delighted to join forces with the world’s premier owner and operator of marinas and boatyards. Dickinson Williams managed our transaction professionally from start to finish, which allowed us to stay focused on running our company.”

“It’s no secret that Charleston is one of the most beloved destinations in the country. Charleston is a place that our boaters already visit, and they will increasingly visit as a result of this partnership,” said Jason Hogg, Senior Vice President of Safe Harbor Marinas. “The City Marina Company does an outstanding job operating these world-class facilities and we look forward to advancing their legacy of exceptional customer service.”

K&L Gates LLP and Nexsen Pruet LLC served as legal advisors, and Webster Rogers LLP as tax advisor to The Beach Company and its partners on the transaction.

About City Marina Companies:

Located on the Ashley River in historic downtown Charleston, the Charleston City Marina features 19,000 feet of linear dock space covering 40 acres of water.  Its trademarked “MegaDock” extends more than 1,500 feet, and is the longest freestanding floating fuel and transient dock on the East Coast. The Ashley Fuel Dock and Bristol Marina are also on the Ashley River very near the Charleston City Marina. The property features a fuel dock, 160 wet slips and 38 drive-on docks. The City Boatyard is South Carolina’s largest full-service boatyard and yacht repair facility.  Located on eight acres just north of the Charleston Harbor on the Wando River, the boatyard offers refits and repairs, yacht restorations, and a 75-ton Travelift.

About The Beach Company:

The Beach Company is a real estate development firm that was founded in 1945.  The Beach Company’s diverse real estate interests include residential and resort properties, office buildings, shopping centers, industrial parks, and land across the Southeast. With progressive vision, influenced by a deep reverence for tradition, The Beach Company’s mission is to create enduring value in every endeavor for generations to come.

About Safe Harbor Marinas:

Safe Harbor Marinas is the largest owner and operator of marinas in the world. Based in Dallas, Texas, the company is dedicated to providing exceptional service and memorable experiences to the global boating community.

About Dickinson Williams & Company:

Dickinson Williams & Company is an independent investment banking firm led by industry veterans with over 80 years of combined investment banking, financing, and operating experience.  The firm provides objective, experience-based advisory services to lower middle market companies with enterprise values typically up to $150 million.  The firm provides sell-side, buy-side, private placement, recapitalization, and strategic advisory services to family and closely held businesses, corporations, and private equity groups, and has a broad cross-section of transaction and industry experience in the industrials, business services, distribution, healthcare, and consumer sectors.

John C. Dickinson
Managing Director
jdickinson@dickinsonwilliams.com
804.588.3412

James A. Gilmore
Managing Director
jgilmore@dickinsonwilliams.com
804.588.3414

Harold J. Williams III
Managing Director
hwilliams@dickinsonwilliams.com
804.588.3413