CHICAGO – November 13, 2015 – Commercial Distribution Finance* (CDF), a business of GE Capital, announced today it has extended its financing program with MarineMax (NYSE: HZO), the nation’s largest boat dealer, through 2018. CDF has provided an increase in the facility of $260 million with a three-year term, which supplies MarineMax with the flexible financing needed to help the company reach its goals for growth.
”CDF’s commitment to the marine industry, in-depth knowledge of the market and investment in business intelligence tools have helped us grow our business. “ said Michael H. McLamb, executive vice president and CFO of MarineMax.
”MarineMax has proven to be a leader in the marine industry and we are pleased to have consistently supported their growth efforts since they went public in 1998,” said Bruce Van Wagoner, president of CDF’s marine group.
About GE Capital, Commercial Distribution Finance
Commercial Distribution Finance* (CDF) provided $46 billion in financing for more than 40,000 dealers and more than 2,000 distributors and manufacturers globally in 2014. CDF operates in 60 countries and provides inventory financing solutions, service and intelligence through in-depth industry expertise and commitment. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, and related financial products. For more information, visit gecdf.com or follow company news via Twitter (GEInventoryFin).
GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the “GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com
About MarineMax
Headquartered in Clearwater, Florida, MarineMax is the nation’s largest recreational boat and yacht retailer. Focused on premium brands, such as Sea Ray, Boston Whaler, Meridian, Hatteras, Azimut Yachts, Ocean Alexander, Grady-White, Harris, Crest, Scout, Sailfish, Scarab Jet Boats, Aquila, and Nautique. MarineMax sells new and used recreational boats and related marine products and services as well as provides yacht brokerage and charter services. MarineMax currently has 53 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas and operates MarineMax Vacations in Tortola, British Virgin Islands. MarineMax is a New York Stock Exchange-listed company. For more information, please visit www.marinemax.com.
*On March 1, 2016, Wells Fargo acquired GE Capital’s Commercial Distribution Finance business, which is now part of the Wells Fargo Commercial Distribution Finance business.