Salem Five Secures $6 Million Credit Facility for Magnus Texx, LLC

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To Support Continued Strategic Expansion & Supply Chain Growth

Salem, MA., March 5, 2026 – Salem Five’s Business Credit team has successfully structured a $6 million credit facility for Magnus Texx, LLC, a leading Acton-based manufacturer and distributor of institutional textile and sustainable single-use disposable products. The facility arrives at a pivotal moment as Magnus scales its national footprint to meet the rigorous supply chain demands of Fortune 500 organizations.

Magnus serves as a vertically integrated bridge between global production and domestic need, leveraging a multi-generational manufacturing legacy in India. Since launching direct U.S. distribution in 2014, the company has become a primary supplier for essential industries, including Healthcare, Food Service, Grocery, Hospitality, Retail and Transportation. This new funding specifically targets working capital flexibility, allowing Magnus to deepen relationships with multi-location clients requiring dependable, high-volume disposable solutions.

“Magnus has demonstrated exceptional operational discipline and a clear vision for national expansion,” said Keith Broyles, Business Credit Team Leader at Salem Five. “We are proud to provide a tailored financing structure that supports their near-term needs while positioning them for long-term success in the middle market.”

Dev Ramasubbu, Founder and CEO of Magnus, noted that the partnership was built on more than just capital. “Salem Five took the time to understand our complex growth strategy. We were looking for a strategic partner who could scale at the pace of our business, and their team has been exceptional—responsive and strategic.”

As Salem Five’s Business Credit division nears its first year of operation, Magnus is a signature example of the team’s mission to fuel the growth of homegrown manufacturers and distributors through sophisticated, relationship driven asset-based lending solutions.

About Salem Five Bank

Salem Five Bancorp is the holding company of Salem Five (www.salemfive.com), a mutual bank founded in 1855. Whatever the need and whatever the goal, Salem Five’s banking, investment and insurance professionals have the expertise to move customers forward. Salem Five has more than $8 billion in assets and 33 retail branches in Essex, Middlesex, Norfolk and Suffolk counties. Divisions include Salem Five Mortgage Company, one of the largest mortgage lenders headquartered in New England; Salem Five Wealth Management & Trust, which offers fiduciary wealth management services to institutions and high-net-worth individuals, financial and retirement income planning, portfolio review and money management; and Salem Five Insurance Services, which provides personal and commercial insurance. Salem Five deposits are insured through the FDIC. Salem Five Mortgage Company’s NMLS # is 4662. Equal Housing Lender. Securities are offered through LPL Financial, member FINRA/SIPC. Life insurance products are offered through LPL Financial or its licensed affiliates. Insurance and investment products are not FDIC insured, not bank guaranteed, may lose value, not a deposit, and not insured by any federal government agency.

FOR MORE INFORMATION

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