DALLAS, TX (September 20, 2021)
Texas-based TopSide Marinas opened its doors in January of 2020. Backed by Miramar Equity Partners and TRT Holdings, the family-owned firm acquires, owns, and operates high-quality marinas throughout the United States. Started by two friends with a passion for the outdoors and a love of the water, co-founders and boating enthusiasts Stephen Lehn and Jacob Boan put a strong emphasis on customer service–and fun.
“Everything we do comes back to hospitality. We want to foster environments where families and friends feel welcome to come and enjoy their time on the water. I grew up boating inland Texas lakes and along the Gulf Coast and those are some of my favorite childhood memories. We want to be the destinations where future generations come to connect and have fun together,” said Stephen Lehn, co-founder of TopSide.
TopSide approaches every transaction with a high level of integrity and puts a strong emphasis on understanding the history of the marinas it acquires.
“We partner with marina owners who have spent an immense amount of time, effort and energy building impressive businesses. We take that to heart and believe it’s our job to first understand that legacy, then continue it,” said Jacob Boan, co-founder of TopSide.
TopSide’s first acquisition in early 2021 was Beavers Bend Marina located on Broken Bow Lake in Broken Bow, Oklahoma–a top vacation destination for residents of North Texas, Oklahoma, Arkansas, and Louisiana. Ahead of the summer boating season, TopSide constructed 20 new wet slips (bringing the total to 350) and made a significant investment in purchasing new rental boats (bringing the fleet to 60 total). The marina wrapped up a successful 2021 season serving an unprecedented 200,000+ visitors. TopSide is partnering with Oklahoma State Parks and the Army Corps of Engineers to expand the marina’s storage capacity and further enhance its existing services to meet the strong demand. Michelle and George Ash of Simply Marinas brokered the deal.
In August TopSide acquired its second marina, Galveston Yacht Marina, from sellers Greg Pappas and Rocky Sullivan, managing members of GYB Investors LLC. For four decades this marina has offered the best access to open water for the 7.2 million Galvestonians and tourists who visit Galveston Island every year. Located minutes from the Gulf of Mexico and right off the Galveston Ship Channel, Galveston Yacht Marina serves boating enthusiasts and avid anglers visiting to explore the endless gulf coast inshore and offshore fishing. The marina offers ample boat storage (500 wet slips and 260 dry stack racks), transient storage, fishing boat charters, service, fuel, and a retail and bait store.
When they acquired the property 2011, Greg and Rocky immediately kicked off a multi-year capital improvement program to resolve damage from Hurricane Ike. Construction of a 57,000-square-foot dry-stack storage facility, re-roofing and painting the covered wet slips, overhauling all structures on the premises, and building and opening the Marina Bar & Grill restaurant all happened during their tenure.
“We were very impressed with Stephen and Jacob, the principals of TopSide. They acted with integrity and did everything they said they would. It was clear to Greg and me that they had the industry experience, operational plan, and necessary capital to close on the transaction,” said Rocky Sullivan, manager of GYB Investors LLC.
TopSide aims to amplify that impressive track record by investing in the property–improvements to existing wet slips and facilities are underway.
TopSide plans to continue acquiring marinas and will consider all opportunities within the United States, including properties located on lakes, rivers, and along the coast.
“We are incredibly proud to be carrying on the legacies of these two marinas. Our focus moving forward is to serve the Broken Bow and Galveston communities impeccably,” said Stephen Lehn, co-founder of TopSide. “We’re also continuing to grow our family of marinas, meeting marina owners, and expanding throughout the U.S.,” said Jacob Boan, co-founder of TopSide.
ABOUT TopSide Marinas:
TopSide Marinas is a Texas-based, family-owned company that acquires and operates high-quality marinas around the country. To learn more about TopSide Marinas, visit: www.topsidemarinas.com
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