Genesis Park, a Houston-based private credit and equity investment firm, has provided a senior secured term debt facility to One Source Communications LLC, a managed services company providing telecom expense management, as part of Genesis Park’s recent investment in the company.
One Source manages the network and IT services of medium-to-large multi-location businesses with dispersed sites including enterprise architecture, network infrastructure, expense management and cybersecurity. A portion of the proceeds from the investment were used by One Source to acquire Sumo Technologies LLC, an independent telecom agent that works to help companies identify vendors and services for their telecom needs. The remaining proceeds will be used to support One Source’s growth initiatives.
“One Source is pleased by the recent investment by Genesis Park and its partner firms to support the acquisition of Sumo, and provide a capital commitment to support future growth initiatives,” says Tim Meng, CEO of One Source. “We are excited to have Genesis Park as a partner given their experience and long history of investing in and operating managed services, wired and wireless telecom and cyber security companies.”