Greenwich”™s L Catterton, the nation’s largest global consumer-focused private equity firm, has entered into a definitive agreement to acquire a controlling interest in West Marine from Monomoy Capital Partners. Terms of the transaction were not disclosed.
Founded in 1968 and based in Watsonville, California, West Marine is an omnichannel provider of aftermarket products and services to the boating, fishing, sailing and watersports markets in the U.S.
It has 237 locations across 38 states and Puerto Rico, as well as two ecommerce platforms.
“By leveraging our firm’s experience building enthusiast brands, we will be able to accelerate West Marine’s advanced omnichannel capabilities and enhance its consumer engagement, while creating an industry defining digital experience,” Marc Magliacano, a managing partner in L Catterton’s Flagship Fund, said in a statement.
The transaction is expected to close in May, subject to customary closing conditions.
