Columbia, MD / Austin, TX (May 20, 2021) – Three Twenty-One Capital Partners (“3-21”) is pleased to announce the sale of its client, Austin Boats & Motors, Inc. (“Austin Boats,” “ABM,” or “the Company”) to NXTLVL Holdings, LLC (“NXTLVL Marine”). Austin Boats is a family-owned and operated, single-location boat dealership located just outside of Austin, TX. NXTLVL Marine is a multi-location marine dealer with 4 locations throughout Texas, making its acquisition of the Company its 5th location.

Founded in 1974, Austin Boats has been serving the Austin, TX market for nearly 50 years. The Company sells new and pre-owned boats from a wide variety of popular brands. It also sells parts and merchandise from its Pro Shop and offers repair, maintenance, and financing services to its customers.

Darryl Moore, General Manager of NXTLVL Marine, said of the transaction, “We have been focused on expanding our Texas footprint deeper into Austin because of its incredible growth potential. We are extremely pleased to have acquired such an outstanding dealership with a strong reputation and long-tenured management team in place.”

Martin Boyer, second-generation owner of Austin Boats, said, “We are also very excited to combine forces with a family-owned, well-respected dealership like NXTLVL Marine to help accelerate ABM’s growth. It was very important to me to ensure the legacy and history of ABM was preserved. Over the last several months, it became very apparent to me that the family owners of NXTLVL Marine share my core values and will be a true steward to what my family has built.”

“We are thrilled that Austin Boats has found an outstanding partner that will continue its family-owned and operated legacy post-sale. Congratulations to everyone involved,” added Gabrielle Evans, Vice President at Three Twenty-One Capital Partners.

Other professionals from NXTLVL included Eric Chase, General Manager, and James Peterson, Consultant. Nate Blackburn of Blackwell, Blackburn, Herring & Singer, LLP served as lead counsel for NXTLVL. Jared Greathouse served as legal advisor to AB&M.

Professionals from Three Twenty-One Capital Partners included Ervin M. Terwilliger, Senior Managing Director, Erik Endler, Senior Managing Director, CFA, Gabrielle Evans, Vice President, and Connor Barnes, Analyst.

About Austin Boats

Austin Boats is a family-owned and operated boat dealership located in Austin, Texas. The Company is a full-service dealership, offering new and pre-owned boats designed for wakeboarding, fishing, cruising, and other recreational activities.

About NXTLVL

NXTLVL Marine is a leading Texas marine dealer with fourteen brands across its five locations in Texas: New Braunfels; Lake LBJ; Ft. Worth; Dallas; and the new ABM location in Lakeway. NXTLVL Marine was founded in 2020 and previously completed the acquisition of Eagle Marine in 2021; it currently has approximately 100 employees statewide.