In March 2024, we acquired Williams Tenders USA, a premier distributor and retailer for UK-based Williams Jet Tenders Ltd., the world’s leading manufacturer of rigid inflatable jet tenders for the luxury yacht market. In March 2024, we also acquired Native Marine, a boat dealer based in Islamorada, Florida.

In October 2023, we acquired a controlling interest of AGY, a luxury charter management agency based in Athens, Greece.

In June 2023, we acquired C&C Boat Works, a full-service boat dealer based in Crosslake, Minnesota. In January 2023, we acquired Boatzon, a boat and marine digital retail platform, through our technology entity, New Wave Innovations. In December 2022, we acquired Midcoast Marine Group, a leading full-service marine construction Company based on Central Florida's Gulf Coast. These three acquisitions completed in fiscal year 2023 were purchased for an aggregate consideration of approximately $49.0 million (net of cash acquired of $0.1 million), including estimated contingent consideration of $9.7 million. Tangible assets acquired, net of liabilities assumed and cash acquired, totaled approximately $20.3 million; intangible assets acquired totaled $1.9 million; and total goodwill recognized was approximately $26.8 million. The goodwill represents the assembled workforce, acquired capabilities, and future economic benefits resulting from the acquisitions. Approximately $13.6 million of goodwill related to these acquisitions is deductible for tax purposes.

In October 2022, we purchased all of the outstanding equity of IGY Marinas for an aggregate consideration of approximately $552.9 million (net of cash acquired of $28.1 million), including estimated contingent consideration of $67.7 million. Tangible assets acquired, net of liabilities assumed and cash acquired, totaled approximately $259.4 million; intangible assets acquired totaled $30.4 million; and total goodwill recognized was approximately $293.5 million. The goodwill represents the future economic benefits resulting from the acquisition. Approximately $193.3 million of goodwill related to this acquisition is deductible for tax purposes.

In April 2022, through Northrop & Johnson, we acquired Superyacht Management, S.A.R.L., better known as SYM, a superyacht management company based in Golfe-Juan, France.

In total, goodwill and other intangible assets increased, primarily due to acquisitions, by $353.1 million and $30.2 million, for the fiscal years ended September 30, 2023 and 2024, respectively. These acquisitions have resulted in the recording of goodwill deductible for tax purposes of $216.0 million and $0.7 million, for the fiscal years ended September 30, 2023 and 2024, respectively. Current and previous acquisitions have resulted in the recording of $559.8 million and $592.3 million in goodwill and $39.7 million and $37.5 million in other intangible assets as of September 30, 2023 and 2024, respectively.

The following table sets forth the changes in carrying amount of goodwill by reportable segment for the fiscal years ended September 30, 2023 and 2024:


	Retail Operations		Product Manufacturing		Total
	(Amounts in thousands)
Balance as of September 30, 2022	$	166,551	$	69,034	$	235,585
Goodwill acquired		321,166		—		321,166
Foreign currency translation		3,069		—		3,069
Balance as of September 30, 2023	$	490,786	$	69,034	$	559,820
Goodwill acquired		29,335		—		29,335
Foreign currency translation		3,138		—		3,138
Balance as of September 30, 2024	$	523,259	$	69,034	$	592,293

Other intangible assets, net, at September 30, consisted of the following:


	2023			2024
	(Amounts in thousands)
Trade names — indefinite-lived	$	17,712		$	18,270
Other intangible assets, primarily customer relationships		25,929			32,818
		43,641			51,088
Less: accumulated amortization		(3,928	)		(13,630	)
Intangible assets, net	$	39,713		$	37,458

The weighted average amortization period for other intangible assets is 4.1 years and they have no expected residual value.

The following table sets forth the aggregate amortization expense for each of the five succeeding fiscal years:


	(Amounts in thousands)
2025	$	9,154
2026		5,801
2027		4,214
2028		19
2029		—
Total	$	19,188