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July 18, 2014

OneSource raises $10M

Farmington’s OneSource Water has raised $10 million in equity, according to a filing Friday with the U.S. Securities & Exchange Commission.

The filing said 22 investors participated, with the first sale taking place July 16.

OneSource raised $5.1 million in April, and has been acquiring bottleless water cooler distributors across the country.

President A.J. Wasserstein said Friday that the company will use the money for infrastructure, acquisitions and its continued organic growth. 

"It’s a capital intensive business," Wasserstein said.

That will likely mean OneSource goes back to the well, either for debt or equity, in the coming months, he said.

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