AMERITEX INCREASES TOTAL FUNDING TO $415 MILLION TO SERVE CUSTOMER GROWTH

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SEGUIN, TX, August 22, 2022 /PRNewswire/ — AmeriTex Holdings LLC (AmeriTex) today announced the closure $380 million in senior secured credit facilities with the US Bank National Association (“US Bank”) to be combined with its $35 million in current subordinated notes with Prudential Capital Partners, LP (“Prudential”) to continue its growth in products and other capabilities to better serve its Texas contractor’s customers.

AmeriTex operates the largest concrete pipe, culvert and precast concrete complexes in the United Statesand is Texas’ leading supplier of concrete storm drainage products for utility and highway contractors. We believe we have revolutionized the way concrete pipes and boxes are manufactured at our state-of-the-art, high-capacity facilities which are strategically located in Seguin, Conroeand Gunter Texas, for responsive service and punctual deliveries. In addition to high capacity, our facilities have the flexibility to meet a wide range of needs, from small residential developments to larger highway projects, stocking numerous products ready to ship in most standard sizes and configurations. When a project requires specific dimensions, joint types and strength ratings, AmeriTex facilities are easily retooled to exact customer specifications. AmeriTex is QCast certified and meets or exceeds all ASTM and TxDOT standards.

Kevin ThompsonFounder, President and CEO of AmeriTex, said, “We listen carefully and work tirelessly to meet the needs of our fellow entrepreneurs. With TxDOT recently announcing another banner year for projects, Texas County real estate revenues hit record highs thanks to rising values, and the relocation of about a dozen Fortune 500 headquarters and thousands of other businesses. towards Texas over the past few years, AmeriTex understands that it must continue to grow to meet the needs of its customers.” Although it operates its new Gunter installation of tubes and caissons for less than a year, it is close to full capacity. Mr. Thompson added, “With this increased funding, we can do even more to provide the value our customers deserve. AmeriTex will always work hard to meet the growing needs of our fellow entrepreneurs.”

Chris Angola, Senior Vice President of Commercial Banking of US Bank added, “We are focused on building lasting relationships that last through economic and industry cycles, making us a reliable and trusted financial partner. We understand Kevin’s commitment to meeting the needs of his customers and enjoy watching the precision with which Kevin and his team build and operate these massive facilities.” Chris added, “We were delighted to have been selected to lead the AmeriTex team $380 million senior credit facility, we hope to be Kevin’s financial partner for years to come.”

Rocky LorenzPresident of AmeriTex, said, “I am delighted that AmeriTex is expanding its relationship with US Bank, which has acted as a true partner. We very much appreciate all the hard work of the US Bank team, including Pace Erbstoesser and Shawn Graves. Like AmeriTex, the US Bank team is strong, long-standing and dedicated to the needs of its customers. Mr. Lorenz added: “Personally, I am delighted to be about to Gunter prefabrication plant soon. Together, we will continue our high standards of customer service that have fueled our growth.”

About US Bank

With $591 billion active at June 30, 2022US Bancorp is the parent company of the US Bank National Association and is the fifth largest banking institution in United States, providing banking, investment, mortgage, trust and payment services to individuals, businesses, government entities and other financial institutions. US Bancorp operates under the second oldest continuous US charter granted in 1863 and has 3,106 branches and 4,842 ATMs, primarily in the Western and Midwestern United States with a strong presence in Texas.

For more information about US Bank, please visit our website at usbank.com

Media Contact
Christopher Podlasek
CFO
[email protected]

SOURCEAmeriTex Holdings LLC

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