AMERITEX INCREASES ITS TOTAL FINANCING TO $685 MILLION TO SERVICE ITS CUSTOMERS' GROWTH

AmeriTex Announces

SEGUIN, Texas, April 9, 2024 /PRNewswire/ -- AmeriTex Holdings LLC (AmeriTex) today announced that it closed its new $155 million credit facility with Bank of America ("BofA") on April 5, 2024, to combine with its $530 million in Senior Notes raised with BofA Securities on October 5, 2023, 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. AmeriTex believes it revolutionized the manner that concrete pipe, box and precast is manufactured in high-capacity, state of the art facilities which are strategically located in Seguin, Conroe, and Gunter Texas. In addition to high capacity, the facilities have the flexibility to serve a broad range of needs from small residential developments to, more specifically, the largest highway projects. AmeriTex stocks the largest quantities of standard sizes and configurations in Texas throughout its campuses of over 1,000 acres, or more than all their combined competitors' storage acres. When a project requires specific dimensions, joint types, and strength ratings, AmeriTex's facilities have many unique, sometimes patent pending tools, to fit the customer's exact specifications. AmeriTex is QCast-certified and meets or exceeds all ASTM and TxDOT standards.

Kevin Thompson, AmeriTex's Founder, Chairman and Chief Executive Officer, commented, "We build lasting relationships that endure through economic and industry cycles, making us a reliable and trusted customer, supplier, and financial partner. 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. We listen carefully and work tirelessly to meet the needs of our contractor friends, as our recent investment in corrugated pipe indicates. AmeriTex will always work hard to meet our contractor friends' growing needs."

Rocky Lorenz, AmeriTex's President, remarked "I'm excited to be completing the final step in our precast facilities with the installation of our exclusive Schlusselbauer Magic system for our risers and cones to complement our exclusive Perfect System and AmeriTex Couplings (patent pending). We believe that our 700,000 tons of precast capacity far exceeds our combined Texas competitors and, as importantly, the monolithic bases, bends and wyes are stronger and more precise than anything ever produced in Texas; we've taken the next step to enhance the sustainability of Texas' infrastructure. Lastly, our recent investment in corrugated pipe will align nicely with our specialized precast products to allow our customers to complete a job in record time."

Tom Murphy, a Founding Director added "BofA and our other long-term financing partners understand Kevin's and Rocky's commitment to its customers to meet their growing needs. We all enjoy watching the precision with which the team builds and operates these massive, unique facilities. We endeavor to remain steps ahead of any liquidity requirements that we anticipate from the many requests of our customers. At the closing last Friday, we had cash on our balance sheet, a new undrawn revolving credit facility of $155 million from BofA, and sufficient availability under our $80 million lease limit. We have more than enough liquidity to provide the value our customers deserve to meet Texas' growing infrastructure needs."

About AmeriTex

The videos of AmeriTex's Texas leading capacity and exclusive and patent pending designs are available on our website at https://www.ameritexpipe.com/facilities-videos/.

Media Contact
DeeDee Johnston
Executive Admin
[email protected]

SOURCE AmeriTex Pipe & Product LLC

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