Exciting new announcement here, especially for our boat-building customers: JIF Marine, of Memphis, Tennessee, has joined T-H Marine, expanding JIF Marine's reach and providing T-H Marine with an even wider range of products.

T-H Marine Announces Acquisition of JIF Marine: A Leading Supplier of Stainless Steel Ladders, Dock Products, and More

Memphis, TN February 1, 2022 – T-H Marine Supplies, LLC., a division of OneWater Marine (NASDAQ: ONEW), is celebrating the completion of its 15th add-on acquisition after purchasing the assets of JIF Marine, LLC. of Memphis, Tennessee. Terms of the transaction were not disclosed. JIF is an industry-leading supplier of stainless steel ladders and dock products for recreational marine applications. As a standalone division of T-H Marine, JIF will continue to operate at its current facility in Memphis, Tennessee.

“JIF Marine has a strong reputation for service, value, and selection, and we couldn’t be more excited to bring them onboard. This will be our first, of hopefully many acquisitions, since joining the OneWater team, which we believe creates an additional springboard for long-term growth,” said Jeff Huntley Sr., Chief Executive Officer for T-H Marine. “T-H Marine has the opportunity to fold in great companies to further enhance our business utilizing our blueprint for acquisitions. We look forward to expanding JIF’s renowned product lines to reach more customers, leveraging our omni-channel strategy and the combined resources of T-H Marine and OneWater.”

JIF Marine, LLC. was founded in 2012 by Jimmy Freudenberg, who has led the company to become a category leader in stainless steel ladders and dock products, among other marine accessories manufactured for major boat builders, distributors, and big box stores. As a standalone division of T-H Marine, JIF will continue to operate at its current facility in Memphis, Tennessee.

“Jimmy Freudenberg, has been a legend in the marine industry for a long time and his company is built with the same grit that T-H Marine was founded on," Huntley added. "Jimmy has really done a remarkable job building robust, reliable, long-standing, and mutually profitable relationships, while assuring quality products are always provided to their customers."

As a strong, family-owned, third-generation business, JIF includes Jimmy’s daughter, Cristen Freudenberg, and grandson, Blake Freudenberg, who serve in key leadership roles. The entire JIF team will continue to manage the day-to-day operations of the business.

“For over 50 years my goal has been to supply the best price, value, selection, and service for all your marine needs,” stated Jimmy Freudenberg, Founder and President of JIF Marine. “After being in this industry and growing yet another business to such heights, I realized I wanted to make sure the legacy I have built could be carried on for future generations. I wanted to guarantee I found the right partner that would provide that, and that company was T-H Marine.”

“They have so many similarities to JIF, including leaders from multiple generations of family and believing at their core to always do right by the customer, just like we do,” Freudenberg added. “I am excited that Cristen and Blake will be able to continue contributing to the growth of JIF while becoming a part of a larger family of companies that will carry on our family’s tradition and securing a career within one of the prime and most esteemed accessory companies in the marine industry.”

JIF Marine provides high quality, well-engineered, and truly inventive products to major boat manufacturers. Some of the JIF product categories include:

  • Stainless steel ladders for all boat types, especially pontoon boats
  • Stainless steel ladders for all types of docks
  • Stainless steel cleats and cup holders
  • Stainless steel winches
  • Stainless steel hardware

“This is our first major acquisition of 2022 and our 15th add-on to the T-H Marine Team overall,” Huntley stated. “We know this is another exciting year in the making as we continue to build on the momentum of 2021 by providing opportunities for business owners of great companies to partner with us, whether it be to take some chips off the table, retire, or move on to other opportunities. We know that our successful blueprint of previous acquisitions has created an avenue for any business owner to find reassurance and trust in going through this process, while providing them comfort that their legacies will be made a top priority as they become part of our family. Together, we can continue to grow in value to all our customers, pair our offerings with a strategy of new product innovation, and meet demand opportunities as the industry-leading manufacturer of quality marine products and accessories.”

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About T-H Marine

With nearly 50 years in business, T-H Marine has grown to be one of the largest manufacturers of boating and fishing accessories in the United States. T-H Marine is based in Huntsville, Alabama, where it provides parts to virtually every boat manufacturer in the country and distributes them through virtually every major distributor and retailer of boating and fishing products.

T-H Marine products include jack plates, outboard tilt and trim controls, rigging components, boat plumbing, hatches, LED lights, livewell aeration, and more. The line-up also includes an expanding selection of products that are part of T-H Marine’s BOATING ESSENTIALS® collection: a must-see, one stop shop for a multitude of the most widely used marine products on all kinds of boats. To learn more about T-H Marine, please visit thmarine.com/about-us.

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For More Information About JIF Marine and Other T-H Marine Acquisitions

JIF Marine, LLC website: http://jifmarineproducts.com/

For additional information about JIF Marine and T-H Marine's acquisitions, please visit our Company News page. Media outlets are also welcome to use the contact information provided below.

Investor or Media Contact:

Jack Ezzell

Chief Financial Officer

IR@OneWaterMarine.com

 

DISCLAIMER: Cautionary Statement Concerning Forward-Looking Statements

January 31, 2022