Please select your home edition
Edition
Marine Resources 2022 Salary Survey

OneWater Marine Inc. completes floorplan financing expansion

by OneWater Marine 4 Jan 16:49 PST
OneWater Marine Inc. updates on its business operations © OneWater Marine Inc

OneWater Marine Inc. (NASDAQ: ONEW) ("OneWater" or the "Company") today announced it has entered into the Seventh Amended and Restated Inventory Financing Facility ("The Facility") with Wells Fargo Commercial Distribution Finance LLC, to increase the inventory-based line of credit to $500 million, up from $392.5 million, and extend the term through December 1, 2023.

"OneWater has been scaling at an exhilarating pace resulting from continued levels of consumer demand and our ability to capitalize on the robust M&A market across the marine industry. The expansion of our financing flexibility enables us to continue executing on our growth strategy, advance our leadership position in the industry and return value to our shareholders," said Austin Singleton, Chief Executive Officer for OneWater.

The Facility is expected to provide sufficient inventory financing capacity for the next two years. Borrowings under the Facility bear interest at the Adjusted 30-Day Average SOFR plus a spread based on type and inventory aging. The Facility also includes certain financial and non-financial covenants, consistent with the previous facility, including provisions that the funded debt to EBITDA ratio must not exceed 2.00 to 1.00, and that the Company's fixed charge coverage ratio on a consolidated basis must be at least 1.00 to 1.50.

Related Articles

OneWater announces fiscal third quarter results
Robust acquisition strategy and strong organic growth deliver continued momentum Record revenue for fiscal third quarter 2022 was $568.9 million, an increase of 40.7% compared to $404.2 million in fiscal third quarter 2021 and was primarily due to our increase in same-store sales and revenue from acquired businesses. Posted on 5 Aug
OneWater announces Fiscal Q3 earnings release date
On Thursday, August 4, 2022, before the market opens OneWater Marine Inc. (NASDAQ: ONEW) (the “Company” or “OneWater”) announced today that it will release its fiscal third quarter 2022 financial results on Thursday, August 4, 2022, before the market opens. Posted on 23 Jul
OneWater Marine to acquire Ocean Bio-Chem, Inc.
Expected to significantly advance growth of parts and accessories business OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or the “Company”) announced today that it has signed a definitive agreement to acquire Ocean Bio-Chem, Inc. (NASDAQ: OBCI) (“OBCI” or “Ocean Bio-Chem”) Posted on 23 Jun
OneWater Marine Inc. announces Fiscal Q2 Results
Continued outperformance and multi-pronged acquisition strategy driving record earnings OneWater Marine Inc. (NASDAQ: ONEW) ("OneWater" or the "Company") today announced results for its fiscal second quarter ended March 31, 2022. Posted on 5 May
OneWater announces Fiscal Q2 earnings release date
Second quarter 2022 financial results on Thursday, May 5th, 2022 OneWater Marine Inc. (NASDAQ: ONEW) (the "Company" or "OneWater") announced today that it will release its fiscal second quarter 2022 financial results on Thursday, May 5th, 2022, before the market opens. Posted on 21 Apr
OneWater completes acquisition of Denison Yachting
Further advances growth and diversification strategy with leading superyacht dealer OneWater Marine Inc. (NASDAQ: ONEW) ("OneWater" or the "Company") announced today that it has completed the previously announced acquisition of Denison Yachting. Posted on 6 Apr
OneWater announces share repurchase authorization
Underscores Management and Board of Directors' confidence in long-term value creation opportunity OneWater Marine Inc. (NASDAQ: ONEW) ("OneWater" or the "Company") announced today that its Board of Directors approved a share repurchase program to repurchase up to $50 million of the Company's Class A common stock from time to time in the open market Posted on 31 Mar
OneWater announces appointment of Greg Shell
Increasing the size of the Board from nine to ten directors OneWater Marine Inc. (NASDAQ: ONEW) ("OneWater" or "the Company") today announced the appointment of Greg Shell to the Company's Board of Directors as an additional independent director, effective as of April 1, 2022. Posted on 24 Mar
OneWater Marine's fiscal first quarter 2022 result
Raising full-year guidance supported by operational performance and powerful acquisition strategy Revenue for fiscal first quarter 2022 was $336.3 million, an increase of 57.1% compared to $214.1 million in fiscal first quarter 2021 due primarily to our increase in same-store sales and revenue from acquired businesses. Posted on 4 Feb
T-H Marine announces acquisition of JIF Marine LLC
Acquisition solidifies leadership position in steel ladder market OneWater Marine Inc. (NASDAQ: ONEW) ("OneWater" or "the Company") announced today that its subsidiary, T-H Marine, has acquired JIF Marine LLC ("JIF"), an industry-leading supplier of stainless steel ladders Posted on 3 Feb
Vaikobi 2021 Boots - FOOTERRooster 2020 - Impact BA - FOOTERSea Sure 2021 - Blakes Toilets - FOOTER