PHOENIX, May 20, 2025 (GLOBE NEWSWIRE) -- DBM Global Inc. (“DBMG”), announced today that it has entered into an amended and restated credit agreement that provides for an $85 million term loan and a $135 million revolving credit facility (the “Credit Facility”), which will be used to fully repay DBMG’s existing debt obligations and provide additional working capital capacity.
The Credit Facility from a syndicate led by UMB Bank, N.A. provides for senior secured debt in the total amount of $220 million and is set to mature on May 20, 2030. The facility also contains an accordion feature to increase the allowable size of the credit facility by an additional $50 million.
“We are excited to continue our outstanding relationship with our banking partners at UMB and this provides us with sufficient liquidity to support the working capital requirements for our platform of companies,” said Rustin Roach, Chairman and CEO of DBMG.
About DBM Global Inc.
DBMG is focused on delivering world class, sustainable value to its clients through a highly collaborative portfolio of companies which provide better designs, more efficient construction, and superior asset management solutions. The Company offers integrated steel construction services from a single source and professional services which include design-assist, design-build, engineering, detailing, BIM co-ordination, steel modeling/detailing, fabrication, rebar detailing, advanced field erection, project management, and state-of-the-art steel management systems. Major market segments include commercial, healthcare, convention centers, stadiums, gaming and hospitality, mixed use and retail, industrial, public works, bridges, transportation, and international projects. The Company, which is headquartered in Phoenix, Arizona, has operations in United States, Australia, Canada, India, New Zealand, the Philippines and the United Kingdom.
Contact:
DBM Global Inc.
Mark Koolis
Chief Financial Officer
(602) 257-7838
Mark.Koolis@dbmglobal.com
For additional information on DBMG’s majority shareholder, INNOVATE Corp. (NYSE: VATE), please visit http://www.innovatecorp.com or contact:
Investor Contact:
Solebury Strategic Communications
Anthony Rozmus
ir@innovatecorp.com
(212) 235-2691
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements generally relate to future events, such as DBMG’s anticipated performance and working capital needs for the operations under the new credit facility and loan agreement. You are cautioned that such statements are not guarantees of future performance and that DBMG’s actual results may differ materially from those set forth in the forward-looking statements. All of these forward-looking statements are subject to risks and uncertainties that may change at any time. Factors that could cause DBMG’s actual expectations to differ materially from these forward-looking statements include DBMG’s working capital needs and ability to perform under the new credit facility and loan agreement and the other factors under the heading “Risk Factors” set forth in INNOVATE’s Annual Report on Form 10-K, as supplemented by INNOVATE’s quarterly reports on Form 10-Q. Such filings are available on Innovate’s website or at www.sec.gov. You should not place undue reliance on these forward-looking statements, which are made only as of the date of this press release. DBMG undertakes no obligation to publicly update or revise forward-looking statements to reflect subsequent developments, events, or circumstances, except as may be required under applicable securities laws.
