Twin Vee buys BoatsForSale.com
The Twin Vee PowerCats, the manufacturer of Twin Vee and AquaSport boats, has entered into an agreement to acquire BoatsForSale.com and YachtsForSale.com – a move that ramps up Twin Vee’s diversification in the recreational marine space.
The digital platforms, owned by OneWater Marine, represent the third-largest online boat marketplace in the United States, with over 42,000 unique listings. The acquisition of BoatsForSale.com and YachtsForSale.com accelerates Twin Vee’s strategy to diversify and scale its operations.
In September 2024, Florida-based Twin Vee PowerCats revealed details of its new Pro-Direct Platform, a digital boat buying platform based on concepts used in the automotive industry.
Joseph Visconti, CEO and president of Twin Vee PowerCats, tells MIN: “The acquisition of BoatsForSale.com and YachtsForSale.com is a strategic complement to the Pro-Direct Platform. Twin Vee is building a fully integrated digital sales ecosystem, and these platforms will enhance our ability to connect buyers and sellers in a seamless, tech-driven environment.
“While Pro-Direct focuses on new boat sales and a Tesla-style ordering process for Twin Vee models, BoatsForSale.com and YachtsForSale.com expand our reach into the broader pre-owned and multi-brand marketplace. Together, they create a hybrid direct-to-consumer and dealer model that leverages e-commerce best practices.”
Twin Vee has been in the power catamaran design and manufacturing sector for more than 30 years. In 2023, the company acquired AquaSport Boats.
Visconti adds: “Our acquisition of BoatsForSale.com and YachtsForSale.com will be another step toward Twin Vee’s long-term growth strategy-one that emphasises innovation, digital transformation, and strategic asset acquisition to increase overall company value. We recognise the immense potential in the pre-owned boat market, valued at over $9 billion, and we are committed to ensuring these platforms continue to provide a frictionless, consumer-first experience similar to what we’ve seen with successful automotive platforms like CarGurus, Carvana, CarMax, and AutoNation. As the marine industry evolves, Twin Vee remains dedicated to finding and integrating key assets that not only drive revenue but also enhance the consumer and dealer experience.”
Digital strategy: recreational marine industry
With digital transformation shaping consumer buying habits, Twin Vee says it intends to implement advanced technology solutions into these platforms to create a more intuitive and efficient user experience for both buyers and sellers. The goal is to equip Twin Vee and AquaSport dealers-along with a broader network of industry players-with cutting-edge tools that will increase visibility, drive sales, and optimize operations.
While this acquisition will not alter Twin Vee’s core business model – manufacturing new Twin Vee and AquaSport boats – it should result in the aforementioned enhanced sales tools.
“With BoatsForSale.com and YachtsForSale.com, we see an opportunity to offer a competitive alternative to other high-cost platforms,” says Visconti. “We believe many dealers and private sellers are looking for a more cost-effective and dealer-friendly solution, and our vision is to provide just that. These platforms have the ability to disrupt the status quo by offering a more affordable, scalable, and innovative approach to online boat sales.
“By investing in these online marketplaces, we are positioning Twin Vee as a forward-thinking company that embraces new technologies, expands its reach, and delivers long-term value to shareholders.”
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