Tonka Bay Invests in NuSource Financial
MINNETONKA, Minnesota (April 6, 2015) —Tonka Bay Equity Partners LLC (“Tonka Bay”) has announced an investment in NuSource Financial (“NuSource”), a leading ATM services, equipment, and commercial security systems provider. Tonka Bay has partnered with NuSource’s founders Jon Erpelding and Rod Beaver to accelerate the growth of the company. The acquisition of NuSource is Tonka Bay’s seventh platform company investment in Fund III.
Headquartered in Eden Prairie, Minnesota, NuSource is focused on serving financial institutions. Founded in 1999, NuSource has built its organization on providing flexible solutions and has grown its footprint to include 19 states.
Jon Erpelding, President of NuSource, said “Our team has a history of delivering high quality service to our customers and building long-term relationships. 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.”
Shane Slominski, Principal of Tonka Bay and NuSource Board member, stated “We are very excited to be investing in NuSource and to have the opportunity to work with Jon and Rod. They have built a great services business and we look forward to working together to take advantage of the various growth opportunities ahead of us.”
About NuSource Financial
Headquartered in Eden Prairie, Minnesota, NuSource is an ATM services, equipment, and commercial security systems company focused on serving financial institutions. NuSource has grown by focusing on understanding and providing solutions for their customers’ evolving needs. Today the business is comprised of 85 employees serving over 600 financial institutions across 19 states. For more information about NuSource, please visit www.nusourcefinancial.com.
About Tonka Bay Equity Partners
Based in Minnetonka, MN, Tonka Bay Equity Partners is a private equity firm that acquires and invests in lower middle market businesses in the highly-engineered manufacturing, business services and value-added distribution sectors. For more information, call (952) 345-2030 or visit tonkabayequity.com.
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