Companies to Pursue Opportunities in the Recreational Marine Industry
NAPLES, Fla. -- Gulf Coast Capital Partners, LLC (鈥淕ulf Coast Capital鈥?, announced today that one of its affiliates has extended a credit facility to Global Marine Boats, LLC (鈥淕lobal Marine鈥? 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 their market leading marine wholesale business.
Benjamin M. Statler, CEO, Gulf Coast Capital, commented, "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. We are bringing a creative capital solution to an industry experiencing a dire lack of liquidity, as well as an unprecedented downturn in demand. We look forward to working with the Global Marine management team and their dedicated associates during these difficult yet opportunistic times."
Joe Lieser, President, Global Marine, said, 鈥淭he capital being provided by designer handbags Gulf Coast will enable us to grow our business, increase Homecoming dresses the average size of our transactions, pursue larger and more diverse inventories, and to better serve our friends in the marine industry. While most firms would shy away from the boating industry during times like these, Gulf Coast saw this as an opportunity and moved quickly to make it happen.鈥?
Overview of Global Marine
Global Marine is one of the largest marine resellers specializing in the wholesale purchase and resale of used boats through domestic and international channels. The principals of Global Marine have over 35 years of combined industry experience affording them the knowledge to operate successfully in today鈥檚 challenging economic environment. Global Marine already enjoys well established working relationships with several leading marine retailers and is regarded as a trustworthy and reliable resource helping to provide capital to an industry that lacks liquidity.
Overview of Gulf Coast Capital Partners
Gulf Coast Capital (鈥淕CC鈥?, along with its affiliates, is a private investment firm focused on providing capital to middle market companies in special situations. GCC invests in quality companies with significant market share, blue-chip customers, strong brand equity, and high barriers to entry that are operationally challenged, financially distressed, or non-core subsidiaries of larger corporations. GCC focuses on a wide range of industries including industrials, services, commodities, consumer, and technology.
GCC鈥檚 investments can take the form of leveraged buyouts, control equity recapitalizations, debtor-in-possession financings, special situation loans, and acquisitions of distressed debt and real estate. GCC鈥檚 investment targets include underperforming businesses with below average or negative EBITDA margins, distressed companies in need of liquidity where speed and certainty are critical, non-core subsidiaries of larger corporations (corporate divestitures), businesses in cyclical or out-of-favor industries, companies undergoing balance sheet or operational restructurings, and acquisitions via out-of-court
