The $235 million facility will allow the company to expand its stocking plans from leading manufacturers in the industry including Sea Ray, Boston Whaler and Azimut Yachts.
ďGE Capital really understands our business, and the opportunities and challenges our industry is facingĒ, said Michael H. McLamb, executive vice president and CFO of MarineMax. ďThis increased credit capacity positions us well to capitalize on the continuing recovery of our industry. We also appreciate how seamless the credit-approval process was, allowing us to focus on growing our business.Ē
ďWeíve been working with MarineMax since they were founded in 1998, and are proud of how weíve been able to support their strategic growth plans,"said Bruce Van Wagoner, president of CDFís marine group. ďWe have a shared passion for the marine industry and we are thrilled to see them realize their next phase of growth.Ē
Headquartered in Clearwater, Florida, MarineMax (marinemax.com) is the nationís largest recreational boat and yacht retailer offering premium brands such as Sea Ray, Boston Whaler, Meridian, Cabo, Hatteras, Azimut Yachts, Grady-White, Harris FloteBote, Crest, Scout, Sailfish, Scarab Jet Boats, Aquila, Ocean Alexander, Nautique and Malibu. MarineMax sells new and used recreational boats and related marine products and services, and provides yacht brokerage and charter services. MarineMax currently has 55 retail locations in Alabama, Arizona, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, Tennessee, and Texas and operates MarineMax Vacations in Tortola, British Virgin Islands. MarineMax is a New York Stock Exchange-listed company.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance (gecdf.com) provided $34 billion in financing for more than 30,000 dealers and more than 3,000 distributors and manufacturers in the U.S. and Canada in 2013. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management and related financial products.
GE Capital (gecapital.com) offers businesses around the globe an array of financial products and services.
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