Bluewater Sportfishing Boats Closes Growth Financing with BankUnited
Bluewater Sportfishing Boats, a family-owned builder of center console sportfishing boats, has closed a growth financing agreement with BankUnited. The funding supports the launch of the company’s new 36-foot center console, expansion of its dealer network in key offshore fishing markets, and continued investment in production.
The package includes a term loan and a revolving line of credit.
“We took debt instead of equity so this stays a family company,” said Ken Goldfarb, President, in a news release. “This company has been family-owned since 1997, and there’s no private equity partner with a five-year exit clock deciding how our boats get built.”
“My hands are on every build, and I personally sea trial every boat before it leaves the shop,” Goldfarb added. “We run and staff this company to give a customer the service and experience of a multi-million dollar custom build at the price of a production boat. We work very closely with our select dealers to make that ownership experience seamless locally, and keep boats on hand so a customer doesn’t have to wait a year to get one.”
Bluewater grew revenue almost 50% in 2025 and expects continued strong growth in 2026.
“With Bluewater’s growth prospects, this transaction represented a compelling opportunity,” said Greg Hillberg, Vice President, BankUnited, in the release. “The company’s solid financial performance and experienced management team provide a high degree of confidence in our decision to complete this deal.”
The company is selectively adding dealers in offshore fishing markets and is looking for partners who share its standards on service and quality. Interested dealers can contact Kelly Goldfarb at kelly@bluewatersportfishingboats.com.
