WhiteHorse Capital Provides Financing to Key Line Construction and Palouse Power
August 12, 2026 – WhiteHorse Capital is pleased to announce that it has led a new first lien credit facility as lead arranger and administrative agent in support of Gemspring Capital’s (“Gemspring”) acquisition of Key Line Construction (“Key Line”) and Palouse Power (“Palouse”, and together with Key Line, the “Company”). The combined Company is a scaled and differentiated utility infrastructure services platform serving the Pacific Northwest.
Gina Provenzale, Managing Director at WhiteHorse Capital, commented, “We believe the combined Company’s strong industry reputation, diverse base of longstanding customers, and attractive end markets create a compelling investment opportunity. We’re excited to support Gemspring and the Company as they execute on their next phase of growth.”
About Key Line Construction
Key Line is a Pacific Northwest provider of utility infrastructure services. The company delivers construction and maintenance services across transmission, distribution, substation, and communication infrastructure for investor-owned utilities, federal power agencies, and electric cooperatives. Key Line is one of the few regional contractors able to self-perform both electrical and civil work, with the operational flexibility and specialized equipment to serve demanding projects in remote terrain. For more information, visit www.keylineconstruction.net.
About Palouse Power
Palouse Power is a utility services contractor serving investor-owned utilities and public utility districts across the Pacific Northwest. The company specializes in distribution, transmission, and substation construction and maintenance. Palouse supports its utility customers on both planned capital programs and emergency restoration work, helping keep power flowing to the communities that depend on it. For more information, visit www.palousepower.com.
About WhiteHorse Capital
WhiteHorse Capital provides debt financing to sponsor and non-sponsor owned middle market companies across a wide range of industries, including Business Services, Financial Services, Industrials, Infrastructure, TMT, Healthcare, and Consumer. WhiteHorse Capital has a broad investment mandate, including cash flow lending, specialty finance, and asset based lending, and provides senior and subordinated debt for buyouts, mergers and acquisitions, growth capital, and recapitalizations. WhiteHorse Capital professionals, located throughout 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.