OneWater Marine completes $124.4M acquisition of Ocean Bio-Chem; obtains $510M credit facility

OneWater Marine Inc.

Acquired Ocean Bio-Chem for approx. $124.4M in cash ($13.08/share), adding marine parts & accessories.
Also acquired Star Brite Europe from OBCI's CEO for $7M and related real property; both were conditions to the main deal.
Funded with cash on hand and a new $510M credit facility ($445M term loan + $65M revolver, due 2027).
The A&R Credit Facility includes $125M accordion and interest rates of SOFR + 1.75-2.75% based on leverage.
OneWater expects to expand market share and drive margin expansion in the marine parts and accessories business.

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