Outcome99
A third yacht, financed against the fleet, and $1.4M in first-season revenue
A major U.S. boat show created a wave of demand for vessels larger than anything in this operator's fleet, a two-week window to secure a new yacht before the season's bookings locked in. Here's how a $6.2M asset-backed facility we mediated let them expand without selling equity or liquidating existing vessels.
1. The Challenge
This yacht charter operator ran a two-vessel fleet out of the U.S. East Coast, both in the 90 to 100-foot range, when a major boat show drove a surge of inquiries for something larger. Prospective clients kept asking for a 150-foot-plus option the operator simply didn't have. The show itself created a two-week window where confirming a new, larger vessel could translate directly into a season's worth of high-value bookings, but only if the acquisition closed before the show's momentum faded.
The founders didn't want to sell equity to move that fast, and liquidating either existing vessel would have meant giving up charter capacity they were already booking against.
2. The Solution
Outcome99 mediated a $6.2M asset-backed facility, secured against the equity in the operator's two existing vessels combined with the new yacht being acquired. Structuring it this way let the lender underwrite against real, verifiable collateral rather than treating it as an unsecured growth loan, which meant a larger facility and better terms than an unsecured product of the same size would have offered.
The facility closed in 17 business days from signed term sheet to funding, in time for the operator to confirm the new vessel and start taking bookings before the boat show interest cooled off.
3. The Result
The new 150-foot yacht joined the fleet in time for the season, generating roughly $1.4M in charter revenue in its first year alone, largely from leads that came directly out of the boat show. Ownership of the company stayed exactly where it was before the deal: fully with the founders.
The operator now runs a three-vessel fleet and has used the same asset-backed structure to plan a fourth acquisition for the following season.
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