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Malibu Malibu Boats , Inc. Completes Acquisition of Maverick Boat Group Strategic transaction complements Pursuit and expands Malibu's saltwater outboard offerings in boat type and price point Highlights . Adds strong player in the center console and bay boat space with a distinguished reputation . • Enhances Malibu's breadth of saltwater outboard offerings with four strong brands Boosts Malibu's manufacturing capacity , product , and distribution expansion opportunities Anticipated to be immediately accretive , excluding purchase accounting and acquisition costs Exhibit 99.1 LOUDON , Tenn . , January 5 , 2021 ( Globe Newswire ) - Malibu Boats , Inc. ( Nasdaq : MBUU ) , announced today that it has closed the acquisition of Maverick Boat Group , Inc. ( " Maverick " ) . The transaction was funded with cash on hand and borrowings under its credit facility . Maverick designs and manufactures center console , dual console , flats and bay boats and has a strong reputation as a pioneer in flats and bay boats . Since 1984 , Maverick has been associated with uncompromised quality and strong performance in the marine industry . With two manufacturing facilities located in Fort Pierce , Florida , Maverick designs and manufactures the Cobia , Pathfinder , Maverick , and Hewes brands . " As a strong , recognized player in the center console and bay boat category , Maverick is a fantastic addition to our portfolio of industry - leading brands and underscores the strength of our M & A strategy , " commented Jack Springer , Chief Executive Officer of Malibu Boats . " Maverick is highly complementary to Pursuit , expanding our saltwater outboard offerings with a strong focus in length segments under 30 feet . In particular , Maverick will allow us to not only leverage strong growth momentum , but also increase production capacity and seize previously untapped demand . We see an amazing opportunity ahead of us as we leverage the strengths of Malibu and Maverick to continue to deliver innovative boats to our customers , while driving long - term growth and profitability for our shareholders . " " Over the last 35 years , Maverick has prioritized its culture on building strong relationships with our team members and customers , while maintaining a continued focus on performance and productivity . Malibu is a perfect partner that shares the same passion for boating , coupled with its ability to drive long - term , profitable growth . " said Scott Deal , Chief Executive Officer of Maverick Boat Group . In connection with the acquisition , Malibu added a $ 25.0 million incremental term loan facility to its existing credit facility and increased the available borrowing capacity under its revolving credit facility to $ 170.0 million . Advisors Truist Securities , Inc. is acting as Malibu's financial advisor and O'Melveny & Myers LLP is acting as Malibu's legal counsel . Hill Ward Henderson is acting as Maverick's legal counsel . 1