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.