River Associates Announces Sale of TrueNet Communications

Chattanooga, TN, May 5, 2016

River Associates Investments, LLC (“River”), a longstanding lower middle market private equity firm based in Chattanooga, TN, announced the completion of the sale of TrueNet Communications (“TrueNet”)  to Fujitsu.

TrueNet is a leading provider of communications network infrastructure services specializing in delivering consulting, engineering, installation and technical services to the Broadband, Wireless and Wireline Carrier, Energy and Utility, and corporate and government markets. TrueNet is extremely well positioned to capitalize on the demand for broadband infrastructure driven by the ever increasing need for bandwidth. River formed TrueNet through the simultaneous acquisitions of TrueVance Management, Inc. and CCE Services, Inc. in March 2011. River was able to create value over the course of its ownership by continuing to professionalize the management team and systems and providing the capital necessary to accelerate the growth of the business by investing in internal resources that would allow the Company to win more business from its existing customers.

Fujitsu is a leading provider of business, information technology, and communications solutions and the combination of Fujitsu and TrueNet’s expertise creates an industry leader that can deliver all of the services necessary for a broadband network buildout. This ’single player’ solution disrupts existing silos of operations and organizational communications, bringing better services to cities, municipalities and any other organizations considering investing in broadband infrastructure.