APRO member Majik Enterprises International Inc. dba Majik Rent-To-Own was recently acquired by Pennsylvania-based Blue Ocean Brands, LLC. This is Blue Ocean’s fourth acquisition and the company now operates 20 stores in Pennsylvania, Ohio, and Kentucky, under the Majik, LifeStyle Home Furnishings, and RentMart names.
Known for respecting the heritage and culture of the businesses it acquires, Blue Ocean was handpicked by rent-to-own veteran Dan Fisher, who founded and led Majik for the past four decades.
“Selling your business after 40 years is an extremely difficult decision,” Fisher said. “But Blue Ocean’s strategy of embracing our company culture and unique position in the marketplace made it much easier.”
Fisher said his decision to sell his business began almost seven years ago, when his daughter Maria was killed in a tragic car accident.
“Since that time, I’ve struggled with my focus,” said Fisher. “I’ve found myself wanting to move to ‘phase two’ of my career. And even though I’m not 100-percent sure what that is, I think it will be led by my desire to honor my daughter.”
Fisher and his wife Tricia invested a portion of their sale proceeds into Blue Ocean’s growth platform, and Dan will serve on the company’s Board of Directors; he also hopes to remain active on the APRO Board of Directors.
“Blue Ocean leadership recognizes that Majik’s team and culture are the reasons for our success,” said Fisher. “The Blue Ocean leadership team has toured all the Majik stores with our COO Mike Simoncini and me, taking time to speak with each individual employee. We feel they really understand what makes Majik Majik.”
Indeed, Blue Ocean has hired every Majik employee, keeping their compensation, benefits, and other Majik perks intact.
“We’re extremely appreciative of the opportunity to partner with the entire Majik team,” Blue Ocean CEO Bill Short said. “Their reputation and culture are among the best in the industry, and we look forward to fostering continued success and opportunity across the entire Blue Ocean platform. We are especially excited to have Mike Simoncini assume the role of Blue Ocean’s COO, overseeing all store operations and support functions.”
Looking ahead, Fisher plans to take some time to strategize next steps, then hopes to open a new small business designed to benefit the Maria Fisher Foundation.
“Tricia and I have donated $5-25k annually in scholarships and to other nonprofits since Maria’s death, but our goal is to increase our contributions significantly and do some pretty big things in honor of Maria,” said Fisher. “I believe this transition will bring me some peace, closure, and hopefully continued connections with an industry I love.”
