This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Wells Fargo Provides Financing To Support Centerstone Linen Services’ Substantial Growth Plan

Stocks in this article: WFC

Wells Fargo & Company (NYSE: WFC) 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.”

“Our company is focused on patient comfort, providing a professional and hygienically clean environment for doctors and nurses, and delivering these services at the right cost,” said John Giardino, chief executive officer of Centerstone Linen Services. “We have doubled our customer base in the last four years and expect to double again over the next three.”

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. Nationwide, Wells Fargo is the No. 1 commercial bank in the markets it serves. In addition to providing a world-class customer experience for our clients, Wells Fargo commercial bankers also are committed to being good citizens, from charitable giving to volunteering to public service.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet ( wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

About Centerstone Linen Services

Established in 2008, Centerstone Linen Services provides the highest quality linen services to Hospitals, Medical Clinics and Outpatient Facilities throughout the East Coast. A closely held company, Centerstone employs more than 750 people who serve our 600+ customers. Focusing on strict quality assurance measures, Centerstone Linen Services has been recognized for outstanding performance in the areas of infection control and hygienically clean linens. For more information on Centerstone Linen Services, contact: Jamie Giardino 1-646-430-9250

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs