Blackstone announced that funds managed by Blackstone Infrastructure have completed their acquisition of Safe Harbor Marinas, the largest marina and superyacht servicing business in the United States.
The business was acquired from Sun Communities, Inc. for $5.65 billion.
Heidi Boyd, a Senior Managing Director in Blackstone’s infrastructure business, said, “We’re pleased to close this transaction and look forward to working with Safe Harbor’s terrific team to further develop their existing marinas and strategically scale their platform.”
“Blackstone offers a world of opportunity to Safe Harbor, and we couldn’t be more excited for the journey ahead,” said Baxter Underwood, CEO of Safe Harbor. “We are eager to pursue growth opportunities while maintaining our people-first culture and strong relationships with the local communities in which we operate, and we thank Sun Communities for its partnership over the past five years.”
The transaction was previously announced on February 24, 2025.
Wells Fargo, J.P. Morgan Securities LLC, and Goldman Sachs & Co. LLC served as financial advisors to Blackstone Infrastructure, while Gibson, Dunn & Crutcher LLP and Simpson Thacher & Bartlett LLP served as legal advisors.
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Blackstone’s infrastructure platform is no stranger to marine investments. In 2019, the firm made a growth investment in Carrix, a marine terminal operator with over 250 facilities worldwide.
