Lincoln supports recap of Versa-backed Hatteras Yachts

Lincoln International has provided undisclosed financing to support a recapitalization of New Bern, North-Carolina-based Hatteras Yachts LLC, a maker of luxury motor yachts and sportfishing convertibles. Lincoln also provided financial advice to Hatteras and its backer Versa Capital Management on the transaction.

PRESS RELEASE

LOS ANGELES, CA – Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce the successful completion of a financing for Hatteras Yachts, LLC (“Hatteras” or the “Company”), a portfolio company of Versa Capital Management, LLC (“Versa”). For over 50 years, Hatteras has been a leading manufacturer and distributor of highly customizable luxury motor yachts and sportfishing convertibles. Lincoln acted as the exclusive financial advisor to Versa and Hatteras and privately placed an asset based revolving credit facility and real estate term loan, both provided by Banc of California. Proceeds from the transaction were used to refinance existing indebtedness, support Hatteras’ strategic growth plans and fund the Company’s ongoing working capital requirements.

As Hatteras’ financial advisor, Lincoln worked closely with Versa and the Hatteras management team to structure, arrange and negotiate the financing. Gregory L. Segall, CEO of Versa, commented, “We are very pleased with the outcome of Lincoln’s process. The Lincoln team brought access to a deep network of lender relationships, extensive debt market expertise and helped to explore a variety of structural options. Lincoln’s process enabled Hatteras to obtain an attractive financing package that will provide the Company with the flexibility to continue executing on its growth trajectory.”

About Hatteras Yachts
Headquartered in New Bern, North Carolina, Hatteras is a leading manufacturer and distributor of highly customizable luxury motor yachts and sportfishing convertibles. The Company has a storied history as a marine industry pioneer and, due to its commitment to excellence, remains one of the industry’s highest rated yacht manufacturers in terms of quality, reliability, durability and seakeeping capabilities. Hatteras has a yacht center in Fort Lauderdale, Florida and a worldwide authorized dealer network spanning over 20 countries. For more information, please visit www.hatterasyachts.com.

About Versa Capital Management
Based in Philadelphia, Pennsylvania, Versa is a private equity investment firm with more than $1.4 billion of assets under management and focuses on control investments in special situations involving middle market companies where value and performance growth can be achieved through enhanced operational and financial management. For more information, please visit www.versa.com.