Tecta America announced the completion of its $210 million incremental First Lien Term Loan through joint lead arrangers Wells Fargo and RBC Capital Markets. According to a news release, proceeds will be used to repay Tecta's existing Second Lien Term Loan, to pre-fund acquisitions under letters of intent and for general corporate purposes. 

Additionally, Tecta added $20 million of revolver capacity to its existing $165 million facility to support continued merger and acquisition and general corporate purposes.

"We are thrilled with the outcome of the refinancing process," said Dave Reginelli, Tecta's president and 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.

"For 23 years, Tecta has been the trusted home where top-notch contractors thrive," Reginelli said. "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."

Tecta America recently claimed the #1 spot on the 2023 Top 100 roofing contractors list, being one of two companies on the list to break the billion-dollar barrier with a reported revenue of $1.2 billion in 2022.

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

Tecta America has over 90 locations nationwide and is one of the largest roofing contractors in the United States.