Marathon Asset Management and Webster Bank announced the closing of a senior-secured credit facility to support H.I.G. Capital’s acquisition of Shore Excursions Group (SEG). Marathon served as Lead Left Arranger, while Webster acted as Administrative Agent for the transaction.

Shore Excursions Group is the largest independent provider of onshore tours and excursions designed specifically for cruise ship passengers. The Company offers a portfolio of approximately 4,000 small group tours across 350 ports in 80 countries, partnering with a network of more than 1,100 local tour operators worldwide.

The financing was provided through Marathon and Webster Bank’s private credit partnership, which leverages the strengths of both institutions to deliver tailored and innovative financing solutions. This transaction highlights the partnership’s ability to support middle-market companies and private equity sponsors with customized capital structures to meet their strategic growth objectives.

“SEG brings nearly two decades of industry experience, recognized leadership in onshore touring, and a steadfast commitment to quality, innovation, and service, attributes that have made it a trusted partner to cruise lines and travelers around the world,” said Curtis Lueker, Head of Direct Lending at Marathon Asset Management. “We are pleased to support H.I.G. Capital, a premier middle-market sponsor with deep expertise across travel, consumer, and technology-enabled sectors, as it advances SEG’s next phase of growth.”

“Marathon’s partnership with Webster continues to deliver customized and creative financing solutions for middle-market companies and private equity sponsors,” added Bruce Richards, CEO and Chairman of Marathon. “By combining Marathon’s leadership in Private Credit—spanning Direct Lending, Capital Solutions, and Asset-Based Lending—with Webster Bank’s sponsor finance and commercial banking capabilities, we offer clients a uniquely differentiated platform and suite of financial solutions.”