Case Study

Delta Marine

Deal Summary

Over 40 years ago, Delta Marine began crafting commercial fishing vessels to brave the world’s most intimidating oceans. In the late 1980’s, Delta transitioned their focus from the fishing industry and started to create a fleet of extraordinary motor yachts.

In 2007, Delta needed to expand their manufacturing capabilities and add the equipment necessary to accommodate larger commissioned vessels. The world-class builder was expanding and needed a finance strategy that would meet their organizational needs and support their mission.

Several groups competed for the business of finding the appropriate financing option for their structure. Zenith Capital won the business with a strategy that included maximizing the company’s access to the manufacturer tax-exempt bond program. Using that as the foundation, Zenith negotiated additional capital structures to fill the company’s capital expenditure and working capital needs.

Zenith’s innovative capital structure enabled Delta to expand their manufacturing capacity to deliver a new generation of innovative yachts that earn the highest respect among industry peers, captains, and crews.

Information

Location
Seattle, WA

Completed
2007

Category
Manufacturing | Marine

Size
Confidential

Financing Type
Tax Exempt Bonds

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