Off The Hook YS Inc.

Off The Hook YS Inc. announced it has entered into a definitive agreement to acquire Bellhart Marine Group, LLC, along with its affiliated entities, in a move described as a transformational step toward creating a premier marine 'Mega Service & Refit Center' platform in the Carolinas. This infrastructure-driven acquisition significantly expands the Company's service capabilities by integrating nearly two decades of service expertise from Bellhart and deep diesel capabilities from Specialized Diesel. The transaction involves operating an integrated, multi-location service platform across three strategic facilities: Cape Fear River Shipyard for heavy service and yacht refits, Market Street Facility for outboard service and repowers, and Sloop Point Marina as a dry stack service and sales hub. Management expects the acquisition to accelerate inventory reconditioning timelines, improve gross margins through lower service costs, and increase control over quality and execution. The Wilmington-based location offers strategic advantages including lower refit costs compared to South Florida and convenient access to Wilmington International Airport. This acquisition complements Off The Hook's previously announced South Florida Mega Hub and Mid-Atlantic hub, strengthening a tri-regional footprint. The transaction is subject to customary closing conditions, including due diligence and third-party approvals.