Poplar Pointe Marine on Lake Gaston Sold to New Owner
MidStreet Mergers & Acquisitions, a business brokerage firm representing privately held businesses throughout the Southeast, has successfully completed the sale of Poplar Pointe Marine, one of the premiere marinas on Lake Gaston in Bracey, Virginia.
About the Company
As the only full-service marina on the Northwest quadrant of Lake Gaston, Poplar Pointe Marine is a favorite among boaters in the region. Patrons have a convenient location to fill up their boat with gas, grab a bite to eat, purchase boat accessories, have maintenance performed on their boats, or even purchase a new or used boat.
Previous owner, Bobby Thompson, founded the business in 2011 with a passion for boating and lake life. With the help of a great team he put together, he grew the business into one of Lake Gaston’s most prominent marinas. After nine years of owning, improving, and managing Poplar Pointe Marine, he decided it was time to sell the business to new owners and pursue other hobbies.
Bobby decided to list their business through MidStreet, who created a marketing video to highlight the business’ attractive features and the lifestyle it provides.
Meeting the New Buyers
Kevin comes to the business with experience in sales and a passion for boating. After nearly two decades of owning and working in retail businesses, Kevin wanted a change.
In order to properly run the business, Kevin had to uproot his family from Asheville to pursue his dream. “I’ve been in Asheville my entire life. We sold two businesses, our house, left parents, brothers and sisters, everything. You pack your whole family up and you’re gone. That’s a weird feeling."
Kevin has learned the business quickly and is off to a great start so far. "I like working with all the different types of boats - you’re always getting something different. It keeps you on your toes and I’ve got a lot to learn, but I enjoy tackling different tasks."
The sale was completed by Jeffery Baxter, President of MidStreet Mergers and Acquisitions.