July 22, 2014 (Stone Mountain, GA) — Axia Acquisition Holding Corporation announced today the payoff of their existing debt facilities. The company operates dba as AMES Taping Tools – the nation’s leading drywall taping & finishing retail operation – and TapeTech Tools – the number one selling brand of drywall taping & finishing 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.
AMES Taping Tools locations provide a wide range of drywall taping and finishing needs across the United States supporting both residential and commercial customers and TapeTech is offered through an extensive line of dealers and distributors domestically and internationally.
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About AMES Taping Tools
Headquartered in Stone Mountain, Georgia, AMES Taping Tools is the industry’s leading provider of drywall finishing tools, supplies and training. AMES invented the automatic taping and finishing tool technology in 1939 and improved it with the introduction of the Bazooka in the 1950’s. This technology dramatically improves the speed, quality and efficiency of the professional finisher. AMES supplies, supports and services residential and commercial interior finishing applications through a network of company-owned and franchise operations across the U.S. and Canada. For more information, visit amestools.com or call 800-241-2771.
Product demonstrations and informational videos are available online at
www.youtube.com/user/AMESTapingTools
About TapeTech Tools
TapeTech has been the number one selling brand of automatic taping and finishing tools for the drywall industry for nearly 30 years. TapeTech tools are known for quality design, engineering and performance. TapeTech is sold though the most extensive network of Distributors and Dealers in the world, making it convenient to find sales, service and technical support almost wherever you are.
TapeTech has been part of the Ames Taping Tools family since 1982.
For more information, visit www.tapetech.com or call 800-426-6256.