WhiteHorse Capital Provides Financing to ELM One Call Locators
February 10, 2026 – WhiteHorse Capital is pleased to announce that it has acted as Administrative Agent in the financing of a new first lien credit facility to support Tiger Infrastructure Partner’s (“Tiger Infrastructure”) acquisition of ELM Utility Services (“ELM” or the “Company”). Founded in 1998 and based in Illinois, ELM is a leading provider of utility locating and leak detection services for providers of natural gas, electricity, communications, fiber optics, and water services across the southern, western, and central U.S.
“WhiteHorse Capital was the ideal partner in this transaction. They were already a financing partner to ELM at the time of the transaction, so they knew the business and the sector very well. We are very pleased that WhiteHorse was able to provide an upsized, flexible capital solution that positions the Company for continued growth and success,” said Marc Blair, Senior Managing Director at Tiger Infrastructure.
Mario Shaffer, Managing Director at WhiteHorse Capital, added, “We are excited to support ELM and Tiger Infrastructure as they execute on their growth strategy, and look forward to working with them in the years ahead.”
About ELM
ELM Utility Services is a trusted provider of outsourced utility locating services, serving public utilities across the United States. The Company’s mission is to protect underground infrastructure, ensure safe, reliable service for its customers, and safeguard the public by preventing damage to critical utility systems. To learn more, visit elmutility.com.
About Tiger Infrastructure
Tiger Infrastructure Partners is an innovative private equity firm focused on providing transformational growth capital to middle market infrastructure companies. Tiger Infrastructure’s value-add approach targets growth investments across the Digital Infrastructure, Energy Transition and Transportation sectors in North America and Europe, where Tiger Infrastructure believes strong tailwinds are driving demand for new infrastructure. Tiger Infrastructure maintains offices in New York and London. To learn more, visit tigerinfrastructure.com.
About WhiteHorse Capital
WhiteHorse Capital offers flexible, creative lending solutions to middle market companies across a wide range of industries, including Telecom, Media and Technology, Healthcare, Business Services and Financial Services. WhiteHorse has a broad investment mandate and provides senior and subordinated debt for refinancings, growth capital, acquisitions, buyouts, and balance sheet recapitalizations. WhiteHorse professionals, across the U.S. and Europe, have extensive experience and a proven track record of providing creative financing structures and employing a long-term relationship-oriented portfolio management philosophy. For more information, please visit our website at whitehorse.com.