MarineMax lifts financing facility to $260 million, extends to 2018

By Wendy Van Sickle

Columbus, Ohio, Nov. 5 – MarineMax, Inc. expanded its financing facility with GE Capital Commercial Distribution Finance Co. to provide for borrowings of up to $260 million, according to a press release.

This is an increase from the previous limit of $255 million.

The amended credit facility has a three-year term, expiring in October 2018, subject to two one-year extensions.

“This enhanced financial flexibility will allow us to capitalize on other growth opportunities as they emerge,” Michael H. McLamb, executive vice president, chief financial officer and secretary of MarineMax, said in the release.

Borrowings under the facility are secured primarily by MarineMax’s inventory that is financed through the facility and related accounts receivable.

Based in Clearwater, Fla., MarineMax is a recreational boat and yacht retailer.

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