One Source Restoration Secures Asset-Based Credit Facility
Infinity Capital Partners and Stephens Inc. advised One Source Restoration through the transaction, which closed April 25, 2024
Oklahoma City, OK (May 30, 2024) – One Source Restoration, LLC (“OSR” or the “Company”), a nationwide utility emergency resource management provider, has received an asset-based credit facility from Wells Fargo Capital Finance. The $70 million revolving credit facility will be used to support OSR’s working capital needs as it continues to provide best-in-class emergency resource management services to utility providers when they face downed power lines due to weather-related events.
One Source Restoration is an emergency response management company providing power line and vegetation management crews, damage assessors, wire down guards, staging site support resources, and other services to utility companies during weather events that cause damage to the utility’s critical infrastructure. Founded in 2015, OSR has grown to work with over 10,000 sub-contractor resources and has partnered with over 70 utility companies across the U.S.
The Company sought an upsized financing mechanism to help fund its ever-growing number of resources available to utility providers for weather-related emergency response. Wells Fargo working capital line of credit allows funding flexibility for both everyday weather events and even the largest hurricanes that could affect OSR’s utility partners.
“I’m thankful for our utility partners who have trusted us in their times of need and for the men and women who respond to weather events all year long when utilities need them,” said Tammy Kent, Founder of One Source Restoration. “We’ve built a best-in-class reputation for quality and safety in our industry that is very important to me, and with Wells Fargo’s support, we can expand our geographic coverage and provide even more resources to help restore power in emergency situations.”
“Over the past eight years the Kents and the OSR team have done an excellent job of identifying and addressing the unique needs of utility companies during weather events,” said Christopher Lee, Managing Partner at Infinity Capital Partners. “The Infinity Capital Partners and Stephens teams are excited to support the continued growth of the Company as advisors on this transaction.”
Infinity Capital Partners, LLC and Stephens Inc. served as co-financial advisors and Hall Estill served as legal counsel to OSR. Otterbourg P.C. served as legal counsel to Wells Fargo.
About Wells Fargo
Wells Fargo & Company (NYSE:WFC) is a leading financial services company that has approximately $1.96 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 47 on Fortune's 2023 rankings of America's largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories. Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo
About Infinity Capital Partners
Infinity Capital Partners is an Oklahoma City-based middle-market investment bank offering a broad range of advisory services to private companies and financial sponsors across a variety of industries. Infinity works closely with owner-operators, shareholders, founders, and management teams of private companies to provide tailored services including M&A advisory, debt and equity placements, recapitalizations, and strategic advisory. For more information about Infinity Capital Partners please visit our website at www.infinitycapitalpartners.com. Securities placed through Infinity Capital Securities, LLC. Member FINRA.
About Stephens Inc.
“Stephens” (the company brand name) is a leading family-owned investment firm that includes Stephens Inc. (member NYSE/SIPC), Stephens Investment Management Group, LLC, Stephens Insurance, LLC, Stephens Capital Partners LLC and Stephens Europe Limited. Stephens Inc. is headquartered in Little Rock, Arkansas. Founded in 1933, Stephens Inc. provides securities brokerage, investment banking and other financial services to a broad client base which includes corporations, state and local governments, financial institutions, institutional investors, and individual investors throughout the United States and overseas. Stephens Inc. (Home Office: 111 Center Street, Little Rock, AR USA, 501-377-2000) is regulated by the Securities and Exchange Commission and the Financial Industry Regulatory Authority. Member SIPC/NYSE. For more information, visit www.stephens.com.