After strong year, new capital structure will allow the company to explore growth opportunities

Kernersville, N.C. (Nov. 19, 2019) – Stake Center Locating, a leading provider of utility and fiber optic network locating services, announced that it has completed the recapitalization of the company’s capital structure. The new capital structure will provide significant liquidity to accelerate Stake Center’s strong growth with current and new customers who desire the company’s unique specialty locating and damage prevention services. With this increase in financial flexibility, Stake Center Locating will also explore alternative avenues to growth, including acquisitions and new service lines.

“Stake Center Locating is proud of our position as a national leader in the specialty utility locating and damage prevention market segment. This recapitalization allows us to focus on continuous improvement of our service to our existing customers and energize our growth with current and new customers.”

— George Baer, Chief Executive Officer of Stake Center Locating

The new capital structure includes both an extension in the maturity of the term loan facility and an increase and extension in the company’s revolving line of credit facility.  The company’s cost of capital has also been significantly reduced.

“Sun Capital Partners has a history of helping companies transform their potential into results, and the new capital structure that we have provided to Stake Center Locating will allow them to focus on growth sectors, such as large fiber optic networks and natural gas systems,”

– Jeremy Stone, Managing Director of Sun Capital Partners, Inc.

The recapitalization comes one year after Stake Center Locating, Inc., and S&N Locating Services, LLC combined under the Stake Center Locating name to reflect the company’s exclusive focus on utility locating services.  Stake Center offers complete coverage in 48 states, serving companies seeking a clear quality and service alternative.

“We have set our sights on being the leader in safety, service and accuracy in the locating industry, because we know our customers have a lot at stake.  Our customers can trust us to get the job done right the first time, because locating and damage prevention are all we do.”

— George Baer, Chief Executive Officer of Stake Center Locating

About Stake Center Locating

Stake Center Locating is headquartered at 636 Gralin St., Kernersville, NC. 27284. It is a utility locating company focused on delivering high-quality, safe and accurate locating services. Stake Center Locating operates in 43 states and Washington, D.C. and is home to more than 700 employees and field personnel. Stake Center completes over 500,000 locate requests each month.