Alterna Capital Solutions, a Paychex company and a provider of flexible working capital solutions, provided a $20 million participation in a $45 million credit facility to a utility services company supporting large-scale power infrastructure across the United States.
The financing will support the company’s continued expansion as it responds to increasing demand driven by severe weather events and infrastructure damage across key regions.
“Companies operating in critical infrastructure sectors need access to capital that can scale as quickly as demand,” Greg Carpenter, executive vice president at Alterna Capital Solutions, said. “We’re proud to partner on this transaction and support a business that plays such a vital role in restoring and maintaining essential services in communities across the country.”
Alterna participated in the transaction through its longstanding relationship with the lead lender.
With the new facility in place, the company is positioned to expand operations, strengthen its utility partnerships and continue delivering services in high-demand environments.