Tonka Bay Equity Partners has made an investment in NuSource Financial, a provider of ATM services, equipment, and commercial security systems. The acquisition of NuSource is Tonka Bay’s seventh platform company investment in Fund III.
NuSource has approximately 85 employees and provides its services to more than 600 financial institutions across 19 states. The company was founded in 1999 by Jon Erpelding and Rod Beaver and is headquartered in the Minneapolis suburb of Eden Prairie (www.nusourcefinancial.com).
Messrs. Erpelding and Beaver remain equity investors in NuSource and have partnered up with Tonka Bay to accelerate the growth of the company. “Our team has a history of delivering high quality service to our customers and building long-term relationships,” said Mr. Erpelding. “NuSource is positioned to continue its exciting growth trajectory and we feel Tonka Bay brings the same culture and also the resources to help us continue growing our business.”
“Jon and Rod have built a great services business and we look forward to working together to take advantage of the various growth opportunities ahead of us,” said Shane Slominski, Principal of Tonka Bay.
Tonka Bay Equity Partners invests in manufacturing, value-added distribution and business services companies with EBITDA greater than $2 million. The firm is based in the Minneapolis suburb of Minnetonka (www.tonkabayequity.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 4-7-15