Genesis Park Provides Acquisition and Growth Financing to One Source Communications

HOUSTON, Nov. 29, 2022 /PRNewswire/ -- Genesis Park, through its investment fund, GP Capital Partners, LP, is pleased to announce its recent investment in One Source Communications, LLC ("One Source" or the "Company"), a managed services provider providing telecom expense management, IT/telecom infrastructure, and critical cybersecurity services to mid-to-large size enterprises with multilocation operations.

Genesis Park, along with two additional private investment firms, provided a senior secured term debt facility as part of the transaction. A portion of the proceeds from the investment were used by One Source to acquire SUMO Technologies LLC ("Sumo"), an independent telecom agent that helps companies identify vendors and solutions to fulfill their telecom needs, particularly related to data centers and cloud-based infrastructure. The remaining proceeds will be used to support One Source's growth initiatives.

One Source manages the entire network and IT ecosystem of mid-to-large multilocation businesses with geographically dispersed sites including enterprise architecture, network infrastructure, expense management and cybersecurity. The Company's value proposition solves four key customer challenges: maintaining security and uptime, managing cost effectiveness, creating visibility and control and providing centralized support for distributed infrastructure.

Tim Meng, CEO of One Source, said, "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. 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. We believe this investment positions the Company to capitalize on future opportunities and accelerate our growth."

Curtis Hartman, Managing Partner of Genesis Park said, "We are thrilled to partner with the One Source team. Tim and his colleagues have built a tremendous platform, and we look forward to supporting them through this next phase of growth."

Genesis Park is a Houston-based private credit and equity investment firm. Its current investment fund, GP Capital Partners, LP, is licensed as a Small Business Investment Company ("SBIC") by the U.S. Small Business Administration. Genesis Park supports growth and later stage lower middle market businesses through flexible debt and equity capital solutions and strategic guidance. Genesis Park generally targets companies with at least $10 million of revenue and $2 million of EBITDA, with proven business models and seasoned management teams. Managed by four experienced investment professionals with broad regional relationships, Genesis Park is committed to partnering with the companies and management teams in which it invests to facilitate growth, transition, and success. For more information, visit www.genesis-park.com.

Founded in 1989 and based in Greenville, North Carolina, One Source is managed service provider focusing on implementing and maintaining mission-critical connectivity, infrastructure and cyber security for mid to large enterprises with multilocation operations. The Company offers communications lifecycle management, managed IT, and managed security services. For more information, visit www.onesource.net.

Founded in 2001 and based in Centerville, Utah, Sumo is a leading partner for sourcing customer experience, colocation, and connectivity solutions worldwide. Sumo has existing relationships with all the top telecommunications providers and helps enterprise clients identify and deliver colocation, cloud, contact center, and networking solutions. Sumo's advisory services help their customers' keep up with their ever-evolving technological and connectivity demands. For more information, visit www.sumocom.com.

SOURCE Genesis Park