General Atlantic, CPP Investments to Acquire Boats Group (1)

General Atlantic and CPP Investments have agreed to acquire Boats Group, an online marketplace for recreational boats.

Private equity firm Permira, the current owner of Boats Group, will retain a minority stake in the company, according to a statement on Thursday that confirmed an earlier Bloomberg News report. While financial terms weren’t not disclosed, people familiar with the matter have said the deal values the online marketplace at more than $2 billion.

Miami, Florida-based Boats Group owns and operates several websites and apps for boat sales, including Boat Trader, YachtWorld and boats.com. The company also provides financing plans ...