Blue Wave Boats

MetaFund participated in the financing for the multi-million-dollar expansion of Blue Wave and Silver Wave Boats, located in Seminole, Oklahoma, which is expected to create 150 jobs. This expansion was funded by a collaboration between MetaFund, REI Development Corp., Horizon Holdings, LLC, U.S. Bancorp Community Development Corp (a division of U.S. Bank), and the City of Seminole. MetaFund and REI utilized a portion of their New Markets Tax Credit (NMTC) allocations to enable this transaction.

The transition and expansion facilitated by this transaction ensures that the business will continue its history of growth and remain a vital contributor to Oklahoma’s economy. Currently, the business has a network of 59 boat dealers in 17 states, throughout the Gulf of Mexico and Midwest, and employs more than 125 people.

Following the retirement of the company’s founders, Horizon Holdings, LLC is partnering with the existing operators and part owners, to continue to build Blue Wave which was started in the 1990s. Over the years, the company expanded to create multiple boat lines, including fishing boats and Silver Wave Pontoons, which is one of the top-selling pontoon brands in Oklahoma.