Skip to main content
Updated:
Original:

Global Marine Boats secures new wholesale credit

Gulf Coast Capital Partners announced that one of its affiliates has extended a credit facility to Global Marine Boats in order to pursue single-asset and portfolio opportunities in the recreational marine industry.

The new facility will provide Global Marine with capital to expand its marine wholesale business.

"We are excited to be partnering with Global Marine, a firm that has been focused on driving activity in what many view as an out-of-favor industry," CEO Benjamin M. Statler said in a statement.

"We are bringing a creative capital solution to an industry experiencing a dire lack of liquidity, as well as an unprecedented downturn in demand," he added. "We look forward to working with the Global Marine management team and their dedicated associates during these difficult yet opportunistic times."

Global Marine is a leading marine reseller, specializing in the wholesale purchase and resale of used boats through domestic and international channels.

Gulf Coast Capital, along with its affiliates, is a private investment firm focused on providing capital to middle-market companies in special situations.

Click here for the full release.

Related

AIM Marine Group Hosts Meet the Editors Event

More than a dozen editors from Active Interest Media’s Marine Group participated in the day-long, information-sharing event.

Fairline Makes Leadership Appointments

The British luxury boatbuilder founded plans to chart its course for the future with a new CEO and the return of Derek Carter as chairman.

Battle on the Great Lakes Rages On

The Icebreaker Wind Turbine Development faces strong headwinds from boating and fishing groups.

Limestone Boat Co. Expands Dealer Network

The company adds four new dealers to its roster, with three to represent Aquasport Boats.

NMEA Announces ‘22 Training Course Schedule

For next year, marine training courses will be offered as virtual and in-person sessions for basic marine electronics installers, and in-person only for advanced installers.

GM Invests $150M in Electric Boat Start-Up

General Motors has acquired a 25-percent stake in Pure Watercraft, a Seattle-based e-propulsion outfit.

Patrick Acquires Marine and RV Seating Maker

The Elkhart, Ind.-based component manufacturer finalized its purchase of Williamsburg Marine and Williamsburg Furniture.