After purchasing a flood control lake last week, Suntex Marina Investors LLC expands its horizons further by shaking hands with rival company Westrec Marinas according to a Dallas Morning News article from February 3 which reports,
“A Dallas-based marina operator is merging with a rival to form the industry’s second most valuable marina company.
Suntex Marina Investors LLC will combine with Westrec Marinas in a deal that puts together the nation’s second- and third-largest marina owners. Suntex is backed by New York-based private equity investor Centerbridge Partners, which paid $400 million for Westrec.
The merger creates a company with a combined value of $2.5 billion, said Suntex CEO Bryan Redmond.
“Emphasizing the cultural fit — it’s two companies that are really trying to provide an experience for people to try boating,” Redmond said.
The flood control lake called Joe Pool Lake in Grand Prairie as well as Sunset Harbor were essential parts of the Suntex’s expansion project, the former is said to accommodate people in creating a waterfront experience according to a Boating Industry article from January 26. They say,
Joe Pool Lake is 7,500-acre flood control lake built and operated by the Army Corp of Engineers. The lake was filled in 1989 and is always kept 100% full. Lynn Creek Marina was built and began operations on July 13, 1990, with 258 wet slips, 40 dry storage slips, a ships store and a service center. The marina has been expanded twice since then bringing the total number of wet slips capable of accommodating vessels up to 50-feet to 528, with 116 dry storage stacks for boats up to 28-feet, and a 450-seat restaurant that was added in 1992.
The marina also has a complete ships’ store, a rental boat fleet, a gasoline dock, boat ramp and boat service center. The floating restaurant and bar, adjacent to the marina store, offers one of the greatest views of the lake and the surrounding area, as well as great food, drinks and entertainment. The Oasis restaurant will be renamed the Blue Sunshine Patio Bar and Grill. Operating out of the marina, the Big Kahuna excursion boat will be renamed The Wave. The Wave has a 97 passenger capacity and is equipped with slides, coolers, layout chairs, a Bluetooth stereo system and BBQ grill which the captain and deck hands operate. There is a golf driving range located adjacent to the marina that will be renamed the Lynn Creek Driving Range.
“Our team is ecstatic to be partnering with the city of Grand Prairie to make Lynn Creek Marina a best-in-class waterfront experience and help bring Joe Pool Lake back into the destination lake the city would like to see for its community,” said Bryan Redmond, CEO, Suntex Marinas. “We love the vision the city and its staff have set forth and are proud to be a part of helping to execute that vision.”
Suntex and Westrec together will combine more than 50 marinas operated. However, not among the 50 are those properties that Westrec manages solely.
