Axia Acquisition Holding Corporation announced in late July the payoff of its existing debt facilities. The company operates dba as AMES Taping Tools and TapeTech Tools.
The company has also secured a new $7.5 million line of credit from Wells Fargo. The new line of credit will provide AMES & TapeTech with funds for working capital and general corporate purposes, according to the company’s president and chief executive officer Fred Daniels.
“The continuing recoveries in the housing and commercial real estate sectors are driving healthy demand for our tools and services,” said Daniels. “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 and to add new locations under the AMES umbrella.