Farmington water provider Onesource Water LLC said it has recapitalized its balance sheet with a $41 million borrowing.
The company, which says it’s one of the largest bottleless water cooler providers in the country, said it will use the money to fund organic growth and executive its acquisition growth strategy.
Webster Bank is the senior creditor on the borrowing and Michigan-based HV Capital Investors is the mezzanine creditor.
Onesource CEO John Pavlovich said in a statement that the debt comes on top of $22 million in equity the company has raised.
