GE Capital Leads $235MM Facility for MarineMax
GE Capital, Commercial Distribution Finance (CDF) announced it significantly expanded its inventory financing program with MarineMax, and extended its duration through 2017. 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.
“GE Capital really understands our business, and the opportunities and challenges our industry is facing”, said Michael H. McLamb, EVP and CFO of MarineMax. “This 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.”
“We’ve been working with MarineMax since they were founded in 1998, and are proud of how we’ve been able to support their strategic growth plans, said Bruce Van Wagoner, president of CDF’s marine group. “We have a shared passion for the marine industry and we are thrilled to see them realize their next phase of growth.”
Clearwater, FL-headquartered MarineMax is a recreational boat and yacht retailer.