West Marine Restructures
September 18, 2023
The retailer made an out-of-court agreement with the assistance of its private equity owner to restructure roughly $800 million of its debt.
The retailer made an out-of-court agreement with the assistance of its private equity owner to restructure roughly $800 million of its debt.
The deal, which expands OneWater’s presence on Alabama’s Lake Martin, excludes the Harbor Pointe real estate.
Revenue increased 4% to $594 million by “maintaining flat dealership, same-store sales and aggressively managing overall boat inventory.”
The company reported revenue of $721.8 million and gross profit of $243.8 million, due in part to strong demand in its premium segment.
Twenty-year company veteran Kyle Roney will lead the company’s Cummings, Ga., location on Lake Lanier.
A ribbon-cutting ceremony for the new dealership on Banyan Boulevard in West Palm Beach, Fla., will be held July 27.
The dealership increased its floorplan facility from $750 million to $950 million, boosting its credit facilities to $1.55 billion.
Karl Anderson replaces Bruce Bellknap, who is retiring after 24 years at the Charleston, S.C., location.
The electric boat builder received an evenly split order for 100 of its 22-foot dual- and center-console boats.
The company has acquired C&C Boat Works, a full-service dealer in Crosslake and its fifth location in Minnesota.
The retailer made an out-of-court agreement with the assistance of its private equity owner to restructure roughly $800 million of its debt.
The deal, which expands OneWater’s presence on Alabama’s Lake Martin, excludes the Harbor Pointe real estate.
Revenue increased 4% to $594 million by “maintaining flat dealership, same-store sales and aggressively managing overall boat inventory.”
The company reported revenue of $721.8 million and gross profit of $243.8 million, due in part to strong demand in its premium segment.
Twenty-year company veteran Kyle Roney will lead the company’s Cummings, Ga., location on Lake Lanier.
A ribbon-cutting ceremony for the new dealership on Banyan Boulevard in West Palm Beach, Fla., will be held July 27.
The dealership increased its floorplan facility from $750 million to $950 million, boosting its credit facilities to $1.55 billion.
Karl Anderson replaces Bruce Bellknap, who is retiring after 24 years at the Charleston, S.C., location.
The electric boat builder received an evenly split order for 100 of its 22-foot dual- and center-console boats.
The company has acquired C&C Boat Works, a full-service dealer in Crosslake and its fifth location in Minnesota.
