Wednesday, September 28, 2016

Suntex Marina Investors Merges With Marina Jack Holdings

National Marina Investment Business Adds Award-Winning Property to Portfolio

Suntex Marina Investors LLC (Suntex), an owner and operator of marina properties, announced that it has entered into an agreement with, and acquired certain interests of, Marina Jack Holdings, LLC and affiliates of SRS Holdings, LLC. These companies are the parent companies of Marina Jack and Oleary’s Tiki Bar in downtown Sarasota; as well as Bayfront Yacht Works & Marina, Bayfront Excursions, and Turtle Beach Grill on south Siesta Key, Florida.

Key Appointments Made Within Marina And Restaurant Management

Sam Chavers, currently Director of Marina Operations and Dockmaster, has been appointed Vice President of Marina Operations at Marina Jack. Since joining the Marina in 2001, Chavers has been responsible for managing the City of Sarasota's largest public marina. In addition to directing a privately-funded $10 million renovation and expansion to Marina Jack, Chavers oversaw the design, permitting, and construction of extensive renovations to Bayfront Yacht Works & Marina on south Siesta Key. Additionally, Chavers has been instrumental in attaining one of Florida's first environmentally "Clean Marinas," a distinction Marina Jack has held for the past 12 consecutive years.

Tom DeLong, who has been at Marina Jack since 2002 as Vice President/GM of Marina Jack Restaurant including the Marina Jack II, Olearys Tiki Bar & Grill and Turtle Beach Grill, has been promoted to Vice President of Food & Beverage at Suntex reporting to the head of Asset Management. In his new role, in addition to providing local management oversight, Delong will be involved with project management and oversight of new food and beverage opportunities at Suntex.

Along with Chavers and Delong, all employees of Marina Jack's restaurant and marina subsidiaries will be kept throughout the transition.

"This is without question a merger of strengths from an operational and managerial standpoint," said Robert L. Soran, CEO of Marina Jack. "We share a vision of future growth opportunities for our people and our combined companies." Soran will have an equity interest and board advisory capacity with Suntex.