ROUND ROCK, Texas - American Plumbing & Mechanical Inc. (AMPAM) announced that it has obtained final approval of its Debtor-In-Possession (DIP) Agreement from Bankruptcy Judge Leif Clark in the United States Bankruptcy Court for the Western District of Texas, San Antonio Division. The DIP facility is provided by Ableco Finance LLC and was consented to by the debtors' pre-petition secured lenders, Harbert Management Corp. and Cerberus Capital Mgt., L.P.
"The decisive actions by the court to date, together with the substantial financing facility that has been arranged, have moved AMPAM further down the path towards a successful reorganization," stated Robert Christianson, chairman of the board and CEO. "Our customers have indicated they intend to remain with us - and we intend to reward that loyalty with a determined commitment to provide the best plumbing and HVAC solutions in the industry."