Atlanta Equity Fund, LP, has consummated an investment in NRI Construction, Inc. ("NRI"), an Atlanta-based specialty contractor focused on the apartment industry. Since the founding of its predecessor company 29 years ago, NRI has evolved from a small provider of renovation services into a provider of a full suite of value-added services and capabilities including all multi-family property needs for maintenance and capital improvements including, but not limited to, exterior renovation, interior renovation and fire restoration services. As part of the transaction, Ron and Avi Manoah will continue to lead NRI's growth and expansion, directing the company's existing, highly seasoned management team, while retaining material ownership in NRI.
 
"We are excited to partner with Atlanta Equity," said Ron Manoah, CEO of NRI. "Atlanta Equity knows our business well and brings a wealth of industry knowledge and operational expertise to help us take NRI to the next level. Atlanta Equity's ability to attract Mickey Steinberg, a highly regarded construction industry expert, to the NRI Board as an outside director has already begun to pay dividends. We look forward to growing the business with our new partners." Gerry Benjamin, Atlanta Equity Co-Managing Partner commented, "We are very fond of Ron and Avi and have developed great respect for NRI's accomplishments. We are gratified to be partnering with the NRI senior management team in growing what is now a great regional business into a leading national provider of apartment renovation services." Robert Annas, Atlanta Equity Partner added, "The apartment industry is more attractive than ever given the well publicized sub-prime single family mortgage fallout. Moreover, demographic trends, including an influx of Echo Boomers and seniors entering the apartment rental market, bode well for continued investment in apartments and apartment services."
 
SunTrust Bank and Harbert Mezzanine Partners provided debt financing for the transaction. Paul, Hastings, Janofsky & Walker LLP served as legal counsel to Atlanta Equity. NRI was represented by Arnall Golden Gregory LLP as legal counsel and Macquarie Capital (USA) Inc. as financial advisor.
 
About Atlanta Equity
Atlanta Equity is an Atlanta-based private equity firm focused primarily on making control private equity and equity related investments in lower middle market companies with revenues between $20 million and $200 million. Atlanta Equity focuses on investing in growing companies located primarily in the Southeastern United States seeking capital to fund acquisitions, recapitalizations and growth. Atlanta Equity invests in a broad range of industries including business services, healthcare services, specialty manufacturing, technology and retail. Limited partners include leading university endowments, insurance companies, charitable foundations, family offices and select high net worth investors. Founding partners include Pete Correll, former Chairman & CEO of Georgia- Pacific, Gerry Benjamin, former head of Navigant Capital Advisor's investment banking and private equity advisory practice, David Crosland, former founding partner of Arcapita, and Robert Annas, former managing director of Patriarch Partners.
 
For more information please visit www.atlantaeq.com.
 
About NRI Construction
NRI Construction, headquartered in Atlanta, Georgia, is a leading provider of apartment renovation and restoration services throughout the U.S., with a primary focus on the Southeast. Since the founding of its predecessor company 29 years ago, NRI has evolved from a small provider of renovation services into a provider of a full suite of value-added services and capabilities including all multi-family property needs for maintenance and capital improvements including, but not limited to, exterior renovation, interior renovation and fire restoration services. NRI's customer base includes some of the country's largest multi-family property owners and management companies.
 
For more information please visit www.nriconstruction.com.