Success Story – Industrial Coatings Firm (TX) – Supporting a Firm in a Risk Industry

Release date: July 5, 2017

Success Story – Industrial Coatings Firm (TX) – Supporting a Firm in a Risk Industry

Houston, TX – In Q2 2017, Amerisource was able to provide $500,000.00 to fund a family-owned and operated Texas-based firm. The firm has over 30-years’ experience in the industrial coating of various metal products for use within the Oil and Gas industry. Specializing in the commercial painting of fuel and water tanks, silos, heavy equipment, compressors, dust collectors, commercial buildings, fiberglass linings and industrial vacuums.

In 2016, they diversified their core business model to include pipe coating, which provided them with the ability to supply FBE coating, pipe restoration, stripping, lacquering, storage and repair services.

After surviving a downturn environment, the firm experienced growth and required increased cash flow. Due to the industry risks and declining revenues, they were unable to obtain a traditional bank loan. A Commercial Banker, at the Bank of America, then referred them onto Amerisource. We were able to provide the necessary working capital to support the firm’s increased growth and payroll demands. By referring the firm to Amerisource, Bank was able to resolve the issue for their client while preserving their business relationship.

“The firm was growing rapidly, so the Banker was unable to extend a credit facility to meet their increasing payroll needs. They involved Amerisource because we were able to structure a working capital facility that met the firm’s exact needs. This was a complicated transaction, but thanks to our levels of “customization” we were able to fund their growth. This has allowed the business to increase their revenues rapidly.” states Daniel Martinez, Amerisource’s Regional Market Manager.