OneWater Marine Inc.

Overview

Deal Type Debt Capital Markets
Size $220 Million
Incremental Senior Secured Credit Facilities
Client & Transactional Partners OneWater Marine Inc.
Our Role Joint Lead Arranger
Joint Bookrunner
Syndication Agent

Summary

On November 30, 2021, KeyBanc Capital Markets (“KBCM") successfully closed $220 Million Incremental Senior Secured Credit Facilities (the “Incremental Facilities”), consisting of a $200 Million Term Loan A and $20 Million incremental Revolver, for OneWater Marine Inc. (“OneWater” or the “Company”). Proceeds from the Incremental Facilities will be used to finance the Company’s acquisition of T-H Marine Supplies, LLC (“T-H Marine” or the “Target”), repay existing indebtedness of the Target, and pay transaction fees and expenses. KBCM acted as Joint Lead Arranger, Joint Bookrunner, and Syndication Agent on this transaction.

Headquartered in Buford, Georgia, OneWater is one of the nation’s largest and fastest-growing premium recreational boat retailers, with a footprint of 71 stores across 11 states. OneWater offers 66 brands from 50 manufacturers. The Company began as an independent “mom & pop” boat dealer, Singleton Marine, in 1987. By 2008, the Company had grown to 9 locations in Alabama and Georgia. In 2014, the Company completed their first acquisition of a family-owned, market-leading dealership in Dallas, and has since grown through a steady series of similarly strategic acquisitions.

T-H Marine, headquartered in Huntsville, Alabama, is a provider of branded boat parts and accessories to OEM and aftermarket customers.

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