AMERITEX INCREASES ITS TOTAL FINANCING TO $415 MILLION TO SERVICE ITS CUSTOMERS' GROWTH

SEGUIN, Texas, Aug. 22, 2022 /PRNewswire/ -- AmeriTex Holdings LLC (AmeriTex) today announced that it closed $380 million in Senior Secured Credit Facilities with U.S. Bank National Association ("U.S. Bank") to combine with its $35 million in current Subordinated Notes with Prudential Capital Partners, LP ("Prudential") 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 believe that we've revolutionized the manner that concrete pipe and box is manufactured in our high-capacity, state of the art facilities which are strategically located in Seguin, Conroe, and Gunter Texas, for responsive service and timely deliveries. In addition to high capacity, our facilities have the flexibility to serve a broad range of needs from small residential developments to the largest highway projects, stocking many ready-to-ship products in most standard sizes and configurations. When a project requires specific dimensions, joint types and strength ratings, AmeriTex's facilities easily re-tool to 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 listen carefully and work tirelessly to meet the needs of our contractor friends. 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. Mr. Thompson added, "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."

Chris Angarola, Senior Vice President of Commercial Banking of U.S. Bank added, "We focus on building lasting relationships that endure through economic and industry cycles, making us a reliable and trusted financial partner. 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." Chris added, "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."

Rocky Lorenz, AmeriTex's President, remarked, "I'm excited to have AmeriTex expand its relationship with U.S. Bank, who has acted as a true partner. 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." Mr. Lorenz added, "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."

With $591 billion in assets as of June 30, 2022, U.S. Bancorp is the parent company of U.S. Bank National Association and is the fifth largest banking institution in the United States, providing banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions. U.S. Bancorp operates under the second-oldest continuous American charter granted in 1863, and has 3,106 branches and 4,842 automated teller machines, primarily in the Western and Midwestern United States with a strong presence in Texas.

For more information about U.S. Bank, please visit our website at www.usbank.com

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SOURCE AmeriTex Holdings LLC