Private equity firm Permira said on Tuesday it will acquire a majority stake in online classifieds marketplace Boats Group from Apax Partners funds.

The financial details of the deal were not disclosed.

The deal for Boats, which mainly serves the recreational marine industry, is expected to close in the first quarter of 2021.

Miami-headquartered Boats Group connects buyers and sellers of boats and is known for its brands such as YachtWorld, Boat Trader,, Cosas De Barcos, while also providing software solutions to over 4,000 brokers and dealers in more than 140 countries.

Source: Reuters

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