The facility provides Atlas with a material increase in its line of credit now available and along with other facets of the facility provides Atlas with increased liquidity which will be used to grow the business. The $100 million credit facility was arranged [image-nocss] and led by Wells Fargo Bank.
"Working collaboratively with our lenders, Atlas has significantly increased the size of its credit facility," said Sam Simon, chairman and chief executive officer. "The new credit facility provides us with a significant amount of liquidity, thus enabling Atlas to execute our long-term growth strategy. We appreciate the continuing support of our lending group which we believe is an endorsement of the company's financial strength and growth strategy."
Headquartered in Taylor, Michigan, Atlas Oil meets the fuel and service needs of businesses, municipalities and governments in 23 states. It also supplies fuel to nearly 400 gasoline convenience stores throughout Illinois, Indiana, Michigan and Ohio. It also maintains operational centers in Michigan, Indiana, Texas and Ohio and satellite offices in Minneapolis, Scottsdale, Ariz., Niles, Mich., Hammond, Ind., and Albuquerque, N.M.
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