Daily News: October 19, 2012

Fusion Reporting Secures Senior Credit Facility From Wells Fargo

Fusion Reporting, LLC, a court reporting service provider, announced that it has secured a senior credit facility with Wells Fargo’s Commercial Banking Group. The credit facility will be used to support working capital and fund expansion as the company continues to grow market share. The facility includes an available term note that will allow Fusion to continuing moving forward with its growth plans by providing capital to assist in the acquisition of an additional $10 million in annual revenue and a revolving line of credit of $2 million to fund Fusion’s working capital requirements.

“As we continue to grow and expand, we are pleased to partner with bankers that know our business and industry so well,” said Craig Saunders, president of Fusion Reporting LLC. “Wells Fargo’s Commercial Banking Group demonstrated a deep understanding of our business model in addition to providing a world-class banking platform that we can leverage to drive operational efficiencies,” said Bill Truchan, CFO of Fusion Reporting.

“Fusion Reporting is clearly a leader in the court reporting industry and we are very pleased to have the opportunity to work with the team,” said Chris McDaid, senior vice president in Wells Fargo’s Commercial Banking Group. “We look forward to continuing to support their growth and success.”

FusionCR2 is a provider of certified court reporters, legal videographers and video conferencing.