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Wells Fargo Provides $24.8MM Facility to Centerstone Linen

January 23, 2013, 07:51 AM

Wells Fargo & Company said it has provided $24.8 million in senior debt financing for Centerstone Linen Services, which owns and operates healthcare textile plants in New York, Pennsylvania, Ohio, Maryland, West Virginia, North Carolina and Tennessee through its two subsidiaries, Atlas and Alliance Healthcare Linen Services. Wells Fargo’s new credit facilities provide capital funds for Centerstone’s continued growth.

“We are thrilled to be working with CLS and their new management team,” said Wayne Keller, senior vice president, Wells Fargo Buffalo Regional Commercial Banking Office. “CLS has set high standards in the healthcare services industry and is a great example of the kind of high quality companies that Wells Fargo is proud to serve.”

As is a new customer for Wells Fargo Commercial Banking, which serves middle-market businesses with annual revenues in excess of $20 million, Centerstone Linen Services projects revenues of more than $70 Million for 2013.

Established in 2008, Centerstone Linen Services provides the highest quality linen services to hospitals, medical clinics and outpatient facilities throughout the East Coast.

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