OneWater Marine Inc. extended the maturities of its senior secured term loan and floor‑plan credit facilities, pushing the term loan maturity to July 31, 2027 and the floor‑plan facility maturity to March 1, 2027. The term loan, led by Truist Bank, and the floor‑plan facility, led by Wells Fargo, remain subject to customary financial and non‑financial covenants.
The floor‑plan facility provides inventory financing capacity of up to $497 million, with an additional $38 million of overtrade capacity. The term loan extension keeps the company’s debt structure stable while giving it the flexibility to fund dealership expansion, inventory purchases, and other growth initiatives across its 95 retail locations and nine distribution centers in 19 states.
Management emphasized that the extensions reinforce OneWater’s financial strength and the confidence of its banking partners. Chief Operating Officer and Chief Financial Officer Jack Ezzell said the amendments “underscore OneWater’s financial strength and our bank group partners’ confidence in our strategy,” allowing the company to maintain capital‑structure flexibility to invest in its dealership network and high‑margin ancillary services.
Executive Chairman Austin Singleton highlighted the company’s progress in strategic brand exits and inventory management, noting that “our strategic brand exits are complete and industry inventories are approaching healthier levels, creating opportunity for margin expansion in fiscal 2026.” The extensions signal lenders’ belief that OneWater’s core business remains resilient despite a $116 million net loss in fiscal 2025 driven largely by a $146 million impairment charge.
By extending these credit lines, OneWater preserves working‑capital flexibility and positions itself to capitalize on growth opportunities amid macroeconomic uncertainty and competitive promotional activity in the marine retail sector. The ability to secure continued inventory financing and debt maturity support is a positive indicator of lender confidence in the company’s long‑term strategy.
The extension also provides breathing room under existing covenants, allowing OneWater to focus on executing its expansion plans without the immediate pressure to refinance or renegotiate terms, which could otherwise divert management attention from operational priorities.
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