West Marine CEO Matt Hyde to Depart
Watsonville, CA, October 23, 2017- West Marine, Inc. (“West Marine”), a leading omni-channel specialty retailer exclusively offering boating gear, apparel, footwear and other waterlife-related products, announced today the departure of Matt Hyde, Chief Executive Officer after five years of service. Under the leadership of Mr. Hyde, the company has transformed from a recognized boat parts retailer to a broader waterlife outfitter for both retail and professional customers. His leadership focused on improving customer experiences throughout the physical retail footprint, improving the online experience and enhancing a curated product assortment that repositioned West Marine as the leading retailer of waterlife products and services.
In September, West Marine was purchased by Monomoy Capital Partners in a $328 million acquisition.
About West Marine
Each person has a unique connection to the water. At West Marine (westmarine.com, NASDAQ: WMAR), our knowledge, enthusiasm and products prepare Waterlife adventurers to foster that connection and explore their passions. With 250 stores located in 38 states and Puerto Rico and an eCommerce website reaching domestic, international and professional customers, West Marine is recognized as a leading Waterlife Outfitter for cruisers, sailors, anglers and paddlesports enthusiasts. Since first opening our doors in 1968, West Marine associates continue to share the same love for the water as our customers and provide helpful advice on the gear and gadgets they need to be safe and have fun.
About Monomoy Capital Partners
Monomoy Capital Partners is a private equity firm with $1.5 billion in committed capital. Through its three fund vehicles, Monomoy makes controlling investments in lower middle market businesses in the manufacturing, distribution, consumer products and foodservice sectors. Over the past eleven years, Monomoy has closed over 45 middle market acquisitions, and its companies have produced over $2.5 billion in combined sales and employed more than 5,000 associates across four continents. To learn more about Monomoy and its portfolio, please visit the firm’s website at www.mcpfunds.com