MarineMax increases financing facility to $440 million, extends to 2022

Chicago, Nov. 12 – MarineMax, Inc. amended and restated its inventory financing facility with Wells Fargo Commercial Distribution Finance for expanded borrowings of up to $440 million, according to a company press release.

This is an increase from the previous limit of $400 million.

The amended credit facility expires in October 2022 and has two one-year extension options.

“Reflecting on our recent acquisitions and looking toward the future, we felt it was prudent to add additional borrowing capacity,” Michael H. McLamb, executive vice president, chief financial officer and secretary of MarineMax, said in a press release.

Borrowings under the facility are secured primarily by MarineMax’s inventory that is financed through the facility and related accounts receivable.

Based in Clearwater, Fla., MarineMax is a recreational boat and yacht retailer.

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