Off The Hook Acquires Bellhart Marine Group

Off The Hook YS Inc. a vertically integrated, AI-powered marine marketplace and one of the largest buyers and sellers of used boats in the United States, announced that it has entered into a definitive agreement to acquire Bellhart Marine Group, LLC, along with its affiliated entities Bellhart Marine Services, LLC, Specialized Mechanical Services, LLC, and Specialized Mechanical Services, Inc.

The combined platform is designed to function as a high-efficiency reconditioning and service engine, enabling the Company to rapidly intake, service, refit, and remarket vessels at scale.

As part of the transaction, Off The Hook will operate an integrated, multi-location service platform across three strategic facilities:

• Cape Fear River Shipyard (Heavy Service & Yacht Refit Hub) – A full-service shipyard capable of hauling vessels up to approximately 70 tons, supporting major refits, structural work and large-yacht service projects.
• Market Street Facility (Outboard Service & Repower Center) – A high-volume service and diagnostics center focused on outboard engines, repowers, and ongoing maintenance, while also serving as a primary sales and customer interface location.
• Sloop Point Marina (Dry Stack Service & Sales Hub) – Following recent approval to expand to approximately 450 dry stack racks, this location will serve as a high-density service and sales hub. Bellhart will lead service operations and new boat sales, supporting a large and growing captive customer base.

This combination of cost efficiency, location, and accessibility is expected to expand the Company’s buyer reach while improving profitability on reconditioned inventory.

The acquisition adds nearly two decades of service expertise from Bellhart, along with deep diesel capabilities from Specialized Diesel. The addition of Bellhart’s operations is expected to further enhance Off The Hook’s ability to efficiently source, recondition, and remarket inventory, supporting faster transaction cycles and improved capital efficiency.

This acquisition complements Off the Hook’s previously announced South Florida Mega Hub (Apex Marine Group) and Mid-Atlantic hub on the Chesapeake Bay.