Blackstone Infrastructure to Acquire Safe Harbor Marinas in $5.65B Deal
NEW YORK— Blackstone Infrastructure has agreed to acquire Safe Harbor Marinas, the largest marina and superyacht servicing business in the United States, from Sun Communities Inc. in a $5.65 billion deal, the firm announced Monday.
Safe Harbor operates 138 marinas across the U.S. and Puerto Rico, making it a dominant force in the boat storage and servicing industry. Blackstone (NYSE: BX) said the acquisition aligns with its investment strategy, which targets companies benefiting from long-term growth trends.
“Marinas benefit from key long-term thematic tailwinds, including the growth of travel and leisure as well as population inflows into coastal cities,” said Heidi Boyd, senior managing director at Blackstone Infrastructure. “We believe Safe Harbor is the best-positioned company in this sector, and we look forward to working with their terrific team to invest behind their existing marinas and to expand their footprint.”
The deal adds to Blackstone Infrastructure’s growing portfolio, which has expanded by approximately 40% year-over-year since its inception and now manages $55 billion in assets as of Dec. 31, 2024. The firm’s investments span multiple sectors, including data centers, marine terminal operations, and renewable energy.
Wells Fargo served as the lead financial advisor to Blackstone Infrastructure and provided committed financing for the transaction. Gibson, Dunn & Crutcher LLP and Simpson Thacher & Bartlett LLP acted as legal advisors.
Blackstone Infrastructure focuses on long-term investments in energy, transportation, digital infrastructure, and water and waste infrastructure sectors. The firm aims to generate stable, long-term capital appreciation while ensuring responsible stewardship and stakeholder engagement.
