North River Capital Invests in Engineering & Site Development Business
Fort Wayne, May 15, 2009
T-E Incorporated, a Fort Wayne, Indiana, based civil engineering and site development firm, announced today that it has completed a transaction whereby North River Capital LLC acquired a majority interest in the company. All T-E management and employees will maintain their current responsibilities, ensuring that core business operations and customer services will carry forward unchanged.
T-E founder Eric Olson, who will continue as president and a member of the board said, “This transaction will provide T-E access to broader markets and allow the company to take advantage of long-term growth opportunities, which in turn will provide additional opportunities for our clients and personnel.”
Danny Rifkin, a principal of North River Capital added, “We’re excited about partnering with Eric in T-E, and believe that we can make a positive contribution to the company’s next phase of growth. T-E’s comprehensive range of services, reputation for quality work, and staff of experienced people will allow the business to expand with continued emphasis on service and quality.”
T-E Incorporated, founded in 1995 with operations in Fort Wayne and Angola, is a civil engineering and site development company that provides a full range of site related construction services including surveying, engineering, excavating, grading, paving, and utility installation to a broad base of customers within 150 miles of Fort Wayne. The company’s unique “Design-Build” approach offers customers a “one-stop shop” for all site development services.
North River Capital LLC is a privately-held equity capital firm located in Fort Wayne, Indiana. The company is focused on acquiring and investing in companies that present long-term strategic opportunities. Portfolio companies include both ongoing enterprises and new ventures. The firm has completed 5 transactions within its first 9 months of operation. North River Capital was founded in the summer of 2008 by members of the Rifkin family and other former OmniSource executives after Steel Dynamics, Inc. acquired OmniSource from the Rifkin family in October 2007.
For further information contact:
Daniel Rifkin - (260) 432-2233 x202
Eric Olson - (260) 489-5541