AmeriTex Holdings closed $380 million in senior secured credit facilities with U.S. Bank to combine with its $35 million in current subordinated notes with Prudential Capital Partners to continue its growth in products and other capabilities to best serve its Texas contractor customers.
AmeriTex operates the largest concrete pipe, box culvert and precast concrete complexes in the United States, and is Texas’ premier supplier of concrete storm drain products for utility and highway contractors.
“We listen carefully and work tirelessly to meet the needs of our contractor friends,” Kevin Thompson, founder, chairman and CEO of AmeriTex, said. “With TxDOT recently announcing another record year of projects, Texas County property receipts growing to record levels from rising home values and the move of about a dozen Fortune 500 headquarters and thousands of other companies to Texas in the last handful of years, AmeriTex understands that it needs to continue to grow to meet its customers’ needs. Although it has been operating its new Gunter pipe and box facility for less than a year, it’s close to full capacity. With this increased financing, we can do even more to provide the value our customers’ deserve. AmeriTex will always work hard to meet our contractor friends’ growing needs.”
“We focus on building lasting relationships that endure through economic and industry cycles, making us a reliable and trusted financial partner,” Chris Angarola, senior vice president of commercial banking of U.S. Bank, said. “We understand Kevin’s commitment to meet his customers’ needs and enjoy watching the precision in which Kevin and his team build and operate these massive facilities. We were delighted to be selected to lead AmeriTex’s $380 million senior credit facility we hope to be Kevin’s financing partner for years to come.”
“I’m excited to have AmeriTex expand its relationship with U.S. Bank, who has acted as a true partner,” Rocky Lorenz, AmeriTex’s President, said. “We very much appreciate all the hard work of the U.S. Bank Team, including Pace Erbstoesser and Shawn Graves. Like AmeriTex, U.S. Bank’s team is deep, long standing and committed to the needs of its customers. Personally, I’m excited to be nearing completion of Gunter’s precast facility soon. Together, we will continue our high standards of customer service that have driven our growth.”
