Wells Fargo Provides Financing to Support Centerstone Linen Services` Substantial Growth Plan

Tue Jan 22, 2013 8:30am EST

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NEW YORK--(Business Wire)--
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

Wells Fargo & Company
Dana C. Obrist, 704-715-6138
Dana.c.obrist@wellsfargo.com
or
Follow us on Twitter
@WellsFargo 

Copyright Business Wire 2013

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