MarineMax expands financing capacity, expects growth

Clearwater, Fla. - MarineMax Inc. has expanded its financing facility to provide for borrowings of up to $235 million. The expanded facility has a three-year term, expiring in August 2017, and it has two, one-year options to renew, subject to lender approval.



Borrowings under the facility are secured primarily by the company’s inventory, not including real estate. The facility is led by GE Capital Commercial Distribution Finance and also includes M&T Bank and Bank of the West. The facility contemplates that other lenders may be added by MarineMax.



“We are adding borrowing capacity as a prudent measure in anticipation for the continued recovery of our industry and expected strong demand for new models from certain key manufacturers,” said Michael H. McLamb, executive VP, CFO and secretary of MarineMax Inc. “The increased financial flexibility and liquidity will allow us to capitalize on additional growth opportunities as they emerge.”