Off The Hook Yachts to Acquire Apex Marine Group, Consolidating Dealer-Brokerage Network

Off The Hook YS Inc. (NYSE American: OTH), based in Wilmington, NC, signed a definitive agreement on Feb. 20, 2026 to acquire Apex Marine Group in a transaction reported at $5.5 million that the company says will create a "mega service, refurbishment & sales hub" for its global customer base. The purchase brings four strategically located South Florida facilities, a full-service repair and refit team, haul-out capability up to 150 metric tons and the ability to handle vessels up to 40 metres.

Financial consideration for the deal was presented as $1.83 million in cash, approximately 670,000 shares of Off The Hook stock "valued at $2.70," and a $1.83 million secured seller note carrying 6% interest due in three years. The company disclosed the agreement in a Form 8-K and filings referenced in market coverage; closing is expected in roughly 60 days, subject to customary due diligence and closing conditions. Simple arithmetic on the component values produces $5.469 million, a $31,000 gap from the $5.5 million headline figure that the press materials treat as a rounding or approximation.

Off The Hook framed the acquisition as adding rare, hard-to-replicate infrastructure in South Florida. Founder Jason Ruegg said, "This acquisition is fundamentally about operational dominance through infrastructure," and added, "Facilities like these simply cannot be replicated in South Florida. Bringing this level of service, storage, and hauling capability in-house is a complete game changer for our efficiency, margins, and ability to scale." Ruegg also acknowledged Issy Perera as "the founder and principal of The Apex Marine Group of Companies" in the announcement.

Industry reporting and the company release note that Apex’s platform includes dealership operations and regional brand representation; one article cites representation of Pursuit for Miami and Solace and Fountain from Ft. Pierce to Key West. A Superyacht Times image caption references Seminole Marine in Palm Beach Gardens, Florida, suggesting at least one of the four sites is that facility. Off The Hook’s social post repeated the press release language, saying the acquisition "adds four strategically located facilities and a full-service team," and the Facebook capture shows 29 reactions, 1 comment and 23 shares, with top fan Cindy Levy Stancill.

Legal descriptors in coverage vary between "definitive agreement" and "Membership Interest Purchase Agreement," but filings and summaries consistently describe a structured mix of cash, stock and secured seller financing. With haul-out and in‑house refurbishment capacity now on the balance sheet, Off The Hook positions itself to scale its self-described "vertically integrated, AI-powered marine marketplace, the largest buyer and seller of used boats in the nation," while the companies complete customary closing steps over the coming roughly 60 days.