Tecta Executes $210 Million for M&A, Bottom Line

ROSEMONT, IL – Roofing contractor Tecta America has completed a $210 million refinancing of an existing high-cost loan that will help fund acquisitions and research and improve the bottom line.

The national developer of commercial roofing companies has completed a $210 million incremental First Lien Term Loan (replacing a $170M Second Lien Term Loan and adding $40M to the balance sheet) and $20M Revolving Credit Facility Upsize to $185 million.

Additionally, Tecta added $20 million of revolver capacity to its existing $165 million facility to support continued M&A and general corporate purposes. The loans were arranged by Wells Fargo and RBC Capital Markets.

"We are thrilled with the outcome of the refinancing process,” said Dave Reginelli, Tecta's President & CEO. “Through continued support of our longstanding lenders, Wells Fargo and RBC, we were able to replace our high-cost Second Lien Term Loan while also increasing our funding available to support future growth of the business.

“This financing ensures Tecta has the capacity to fund acquisitions as more contractors consider what is best for the future of their business and their people during these turbulent times," said Dave Reginelli, Tecta's President & CEO.

Marc Benson, Tecta's CFO, added, "We appreciate the continued support and confidence of our longstanding and expanding financing base, who have seen Tecta execute our proven organic and acquisition growth strategy. This refinancing furthers our ability to execute on our acquisition growth strategy and provide sellers with confidence in Tecta's ability to close with no financing contingencies".

Tecta America has over 90 locations nationwide and is the largest roofing contractor in the United States, with an impeccable quality and safety reputation. Tecta is an approved applicator of all major manufacturers.

For more, go to tectaamerica.com.