United Subcontractors Secures $35 Million Line Of Credit From Wells Fargo

ST. PAUL, Minn., Nov. 6, 2013 /PRNewswire/ -- United Subcontractors Incorporated (USI), a leading provider of product installation and related services to builders, contractors and homeowners, announced today that it has secured a $35 million line of credit from Wells Fargo.  The new line of credit will provide USI with funds for working capital, general corporate purposes and certain acquisitions, according to USI president and chief executive officer L.W. Varner, Jr.

"The continuing recoveries in the housing and commercial real estate sectors are driving healthy demand for our services," said Varner.  "This new line of credit provides us with the financial flexibility to pursue our plans for balanced growth both in existing and new markets."

With recent improvements in market conditions, the company is evaluating opportunities to expand the products and services it offers and to add new locations.

USI's 34 local affiliates work with the nation's leading builders and contractors.  USI branches provide a wide range of installation services including insulation, windows, shower enclosures, mirrors, shelving, and garage doors, as well as shell construction, fireproofing and insulation materials distribution.

About United Subcontractors Incorporated

USI, founded in 1998, is a market leader in installing insulation, windows, glass, mirrors, shelving, fireproofing and other residential and commercial producers for buildings, contractors and homeowners. Headquartered in St. Paul, Minn., the company has offices in 38 locations across 13 states, staffed by more than 1,300 professionals. Learn more at www.unitedsub.com.

CONTACT:
Curt Petersen
Chief Financial Officer
United Subcontractors, Inc.
651-225-6419
[email protected]

SOURCE United Subcontractors Incorporated