General Atlantic and CPP Investments have agreed to acquire stakes in Boats Group, joining Permira as shareholders in the global operator of online marketplaces for boats and yachts, as private equity interest in vertical digital platforms continues to rise. 

Permira, which backed Boats Group for the past five years, has partially realised its position but will remain a significant minority investor. The Miami-based company operates Boat Trader, YachtWorld, and boats.com, and has grown into one of the most established digital marketplaces in the marine sector.

Boats Group has accelerated its technology development in recent years, introducing AI-powered merchandising, improved reporting tools, mobile upgrades, and enhanced dealer workflows. The platform aims to make boat discovery and purchasing more seamless for buyers while helping dealers manage and sell inventory more effectively.

CEO Patrick Kolek said: “Their investment recognizes the passion and dedication our team has brought to modernizing the marine marketplace and strengthens our commitment to building an even smarter, more connected experience going forward.” He added that Permira’s continued backing has enabled the company to stay focused on serving its community.

General Atlantic managing director Chris Caulkin said Boats Group has become “a data-driven, tech-first organization with product innovation at its core,” noting the firm is well positioned to benefit from the sector’s broader shift to digital. CPP Investments managing director Sam Blaichman described Boats Group as “a category-defining leader in a market still early in its digital and AI-led evolution,” and highlighted the platform’s strong network effects and global expansion potential.

As part of the transaction, board seats will be allocated to General Atlantic, CPP Investments, and Permira representatives. The deal is expected to close in the first half of 2026, subject to customary approvals.

The investment marks another example of private equity firms targeting specialised digital marketplaces with strong recurring demand, network effects, and clear value propositions for both buyers and sellers.

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