MarineMax signs financing deal and debuts website

MarineMax held a press event where company executives expressed optimism that the industry is expanding.
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On the eve of the Fort Lauderdale International Boat Show’s official opening today, MarineMax held a press event where company executives expressed optimism that the industry is expanding.

“All of us at MarineMax are feeling good about the recreational marine industry’s performance in the 2015 model year and are excited about the prospects as we begin the 2016 model year,” MarineMax president and CEO Bill McGill said at the event, according to a statement.

MarineMax announced the launch of a new website to recognize “an underserved segment of their customers — yachting enthusiasts,” the company said.

The site features MarineMax brands and models 50 feet and larger and a unique online environment customized for the yacht buyer. The company has yachting services that include a concierge service, yacht sales centers and certified yacht service centers, said sales, marketing and manufacturer relations vice president Chuck Cashman.

“MarineMax has intentionally aligned with the top brands, including Sea Ray L-Class,” Cashman said. “We are also the exclusive North American Azimut dealer and the official Ocean Alexander dealer from Texas to the Atlantic coast. In addition, MarineMax offers Hatteras Yachts in several key markets. We are proud to represent these iconic brands.”

The company also said it would expand its financing facility to provide for borrowings of as much as $260 million from the previous limit of $235 million. The expanded facility has a three-year term that expires in October 2018 and it has two one-year options to renew, subject to lender approval.

The agent of the facility is GE Capital Commercial Distribution Finance and includes M&T Bank and Bank of the West.

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