SolvChem, a Pearland, Texas-based chemical products manufacturer, has secured an expanded senior credit facility from Amegy Bank, a division of Zions Bancorporation, the company said on Tuesday.
The facility increases term-loan capacity to finance construction and equipment for new production lines alongside higher revolving credit to support organic growth. SolvChem has operated for more than 55 years, specializing in custom chemical blending and packaging services.
Amegy Bank, which manages $14 billion in assets and employs roughly 1,000 staff across more than 75 locations in Texas, provided the expanded facility. The bank’s senior credit offering follows SolvChem’s strategic plan to scale capacity and serve existing customers, according to Jean-Pierre Baizán, the company’s CEO.
Westlake Securities, based in Austin, served as the exclusive financial adviser on the transaction. The firm, which has completed more than $6.7 billion in advisory work since 2003, noted this as its second engagement with SolvChem. Jon D’Andrea, managing director at Westlake, said the expanded facility positions the company for continued growth.
The credit package includes term loans for capital expenditures and an expanded revolving line to back ongoing operations and expansion initiatives. SolvChem did not disclose the size of the facility or pricing terms.
