OneWater Marine Sells Ocean Bio-Chem Holdings

OneWater Marine Inc. has completed the sale of Ocean Bio-Chem Holdings, Inc. as part of its broader portfolio optimization strategy focused on core assets and long-term value creation. Proceeds from the transaction will be used to reduce debt and further strengthen the balance sheet.

OBCI manufactures, markets and distributes specialty chemical products under Star brite®, Star Tron®, Odor Star®, Performacide® and other brand names. In addition, OBCI provides private label production, blending and packaging for many of its products. Ocean Bio-Chem is based in Ft. Lauderdale, Florida, with a manufacturing plant in Montgomery, Alabama. OneWater acquired OBCI in August 2022.