OneWater Marine has reached an agreement to acquire the assets of Naples Boat Mart, the company said in a statement. Terms of the deal weren’t disclosed, and OneWater expects the transaction to close later this year.

A third-generation, family-owned and operated business, the Venice, Fla.-based dealership carries the Grady-White, Hurricane and Key West brands. OneWater said the move will increase new and preowned boat sales and give OneWater an established storage, service and repair presence on Florida’s west coast.

Naples Boat Mart generated approximately $30 million in sales during the past 12 months, according to the statement.

OneWater CEO Austin Singleton said the acquisition further enhances its presence in the Sunshine State. Earlier this year, the company finalized its acquisition of Walker Marine Group in Marco Island, and in late 2020 it added the Tom George Yacht Group’s two locations, in Clearwater and Dunedin.

“We are thrilled to welcome Philip Osborne and the Naples Boat Mart team into the OneWater family as we continue to deliver on our acquisition strategy,” Singleton said. “We look forward to providing new opportunities and resources to support their continued success.”

Added Osborne: “With OneWater’s digital footprint, finance and insurance prowess, and a company culture that is second to none, I believe we can take Naples Boat Mart to new heights, amplifying new and existing revenue streams while staying beholden to our values as a family-owned company.”