Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide, represented Plantation Boat Mart & Marina, Inc. (“Plantation”) in securing senior debt financing from Synovus Bank. The financing will support various recapitalization and growth initiatives.
Plantation Boat Mart & Marina, Inc. operates as an independent, family owned boat dealership and marina. Founded in 1996 and based in Tavernier, Florida, Plantation is a dealer for Sea Hunt Boats, Deep Impact Boats, Invincible Boats, and Blackwater Boats. They also offer an excellent selection of quality pre-owned center console boats and yachts. Plantation’s parts and service department continues to grow and is now one of the most complete and largest departments in South Florida, with over 40,000 square feet under-roof.
Plantation is proud to have achieved both Top 100 Dealer in North America and the National Marine Manufacturers Association’s 5-Star Certified Dealership status. Plantation is not just a boat dealership—but a way of life. The connectivity to their customers is long-standing and essential, as they return to Plantation year after year, purchase after purchase, to support their passionate lifestyle for boating.
“Cassel Salpeter has years of experience helping middle-market businesses like Plantation raise capital, complete recapitalizations, and mergers and acquisitions,” said Cassel Salpeter Director Joseph “Joey” Smith, who led the assignment. In this instance, we helped Plantation in evaluating its financing options and assisted throughout the due diligence and closing process. Plantation’s Founder Elias De la Torre, Jr. added: “We are grateful for the expert guidance that Cassel Salpeter provided in connection with the transaction.”
Robert Gardana, Esq., Aldo Lastra, Jr. CPA, and Anita Aedo, Senior Vice President & Director of Middle-Market Banking at Synovus Bank, also worked diligently to expedite the transaction’s closing.
About Cassel Salpeter & Co., LLC
Cassel Salpeter & Co. is an investment banking firm with professionals who have more than forty years of financial experience. They deliver smart, straightforward advisory services to middle-market companies across America. With a thorough understanding of their clients’ industries and a keen sense of the economy, the Cassel Salpeter team provides independent, timely advice so clients can capitalize on a rapidly changing global environment. Headquartered in Miami, Florida, Cassel Salpeter is led by James Cassel and Scott Salpeter. Member FINRA and SIPC.