West Marine Enters New $150M Credit Facility

West Marine, and some of its affiliates, entered a new $150 million credit facility from asset-based lender (ABL) Eclipse Business Capital. The transaction extends the previous maturity date and provides reduced interest expense. These transactions support the company’s strategic evolution and long-term growth.

With the financial support of investors and financial partners, West Marine’s new leadership team will continue to execute the company’s strategic evolution, led by Chuck Rubin, chief executive officer.

West Marine serves its retail and professional customers from 232 stores in 38 states and Puerto Rico and its online e-commerce platforms serving retail and professional customers. West Marine will continue to foster its long-term relationships with vendors, streamline its operations for optimal performance and enhance its service to customers through the ability to buy products online at westmarine.com. West Marine has expanded fulfillment offerings such as same day or next day delivery from virtually all of its locations which are strategically located near marinas and boating communities, making tens of thousands of products even more accessible to boaters.

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