River Associates Investments, LLC Announces the Launch of TrueNet Communications, Inc.
March 10, 2011 – Chattanooga, Tennessee – River Associates Investments, LLC announced today the launch of TrueNet Communications, Inc, a diversified communications network infrastructure services provider specializing in delivering consulting, engineering, installation and technical services to the Broadband, Wireless and Wireline Carrier, Energy and Utility, and corporate and government markets. River Associates has teamed up with communications services veteran Bill Johnson, who will be President and CEO of TrueNet. Johnson had previously served as CEO of NorthStar Communications Group. TrueNet is based in Jacksonville Florida with operations throughout the country.
TrueNet is initially comprised of three operating companies – Truevance Management, Inc. (www.truevance.com), TBW Solutions, LLC (www.tbwsolutions.net), and CCE Services, Inc. (www.cceservices.com) which will continue to be led by their respective management teams. Johnson and River Associates plan to make other synergistic acquisitions within their target market space.
Craig Baker, partner with River Associates, commented, “We are excited about our business plan for growth and feel the macro drivers in the market will support new and exciting opportunities well into the future for our business.” Bill Johnson added, “Teaming with the owners of our operating companies and our ability to leverage their great reputations and history in the industry gives us an excellent start for TrueNet.”
About River Associates Investments, LLC
River Associates Investments, LLC (www.riverassociatesllc.com) was founded in 1989 as a private equity partner for management teams in buyouts, divestitures and recapitalizations of lower middle market companies (EBITDA of $3 million to $10 million). In its twenty two year history, River Associates has managed over 60 investments through its five committed funds. The firm seeks to partner with management teams of companies where opportunities exist to grow both internally as well as through synergistic acquisitions. River Associates invests in companies operating in a wide variety of industries including niche manufacturing, high-margin distribution, industrial services and select retail businesses throughout the United States and Canada.
For more information, contact:
Bill Johnson, President/CEO
TrueNet Communications, Inc.