Fiesta Marine inks financing deal

Author:
Updated:
Original:

Fiesta Marine Products Inc. and MK Anchor Financial LLC announced a long-term partnership that will bring new inventory financing to the Fiesta Saltwater pontoon dealer network and help expand the Fiesta dealer network.

"We are pleased that this new arrangement with MK Anchor will allow our existing dealers the ability to show and sell from an in-stock position, as well as allow us to reach out to those new dealers who require inventory financing," said Carl Morahan, president of Fiesta Marine.

Fiesta, of Hudson, Fla., is a privately held boatbuilder that focuses on aluminum recreational pontoon boats for saltwater marketplaces. Fiesta Saltwater pontoon boats have been built in the Tampa Bay area since 1978.

MK Anchor Financial was formed last year by a group of equity investors who believe in the growth opportunities in supporting marine recreational dealers with floorplanning services that are dedicated to marketing a niche line, such as Fiesta's Saltwater pontoon boats.

Related

Polaris Names CEO and CFO

Previously interim executives, Michael Speetzen was named the CEO and Bob Mack the CFO of the Minnesota-based powersports company.

Sanlorenzo Reports Q1 Financials

The Italian builder continues to gain market share and expects to debut five models at Cannes in September and launch three new lines in 2022.

New Hope for Killing Algae Blooms

Researchers are experimenting with injecting ozone nanobubbles into waterways that burst and cut off the algae’s food supply.

Mercury’s Impact on the Local Economy

A new study shows that the manufacturer has a more than $5 billion annual impact on the Fond du Lac, Wis., community.

Lippert Posts Record Q1

The quarter marked a “watershed moment” for the component supplier, as net sales hit $1 billion.

Rollick Reaches 100th OEM Customer Mark

Customers that use its Aimbase marketing technology represent 65 percent of U.S. marine unit sales.

Safe Harbor Adds Lauderdale Marine Center

The Florida superyacht facility was acquired in a deal worth $340 million.