A press release from Ohio's Bridge Industries:



News Release







BRIDGE INDUSTRIES MAKES THIRD INVESTMENT IN ENERGY

Acquires Controlling Interest in TransTech Energy



Cleveland, Ohio (October 28, 2013) Bridge Industries, LLC (Bridge) announced today that it has acquired a controlling interest in TransTech Energy (TransTech) in Rocky Mount, North Carolina. The existingTransTechmanagement team, led by Founder and President Britt Medley, remains fully intact and has reinvested in the business with a significant equity stake. Jeff Berlin, President of Bridge, said the investment is Bridges third major transaction in the energy sector since its founding ten years ago, and was made to partner with the current management team and support the next phase of their growth. Clevelander Tim Pistell, retired EVP/CFO of Parker Hannifin, is also a minority investor and will join the TransTech board.



TransTech Energy designs, builds, installs and services storage systems for LPG (liquid petroleum gas) and NGL (natural gas liquids). With years of experience in the propane industry, TransTech has expanded its product offering and market reach to support the increased infrastructure needs in the NGL industry.TransTechs experience with high pressure gas/liquids storage and handling has positioned it to be a valuable partner for the energy industry as it builds capacity to handle increased North American production of NGLs from successful shale well development.TransTech was founded in 1998.



Berlin discussed the decision to invest in TransTech, saying, At Bridge, we look to invest in manufacturers of engineered products with proven management teams, diverse customer bases, high barriers to entry, proprietary products, and strong track records. We are especially attracted to companies in the energy sector because of the natural demand that exists as the U.S. continues striving for energy independence. We are acutely aware of this quest for energy independence here in Ohio where the pace of oil and gas exploration and production, as well as investments in midstream infrastructure, are accelerating in the eastern portion of the state where the Utica shale play is so promising although the demand for energy and for high quality suppliers to the industry is indeed worldwide. TransTech has exhibited tremendous growth in recent years and is uniquely positioned to continue advancing its success due to growing infrastructure needs to support natural gas liquids as a byproduct of shale.



TransTechs headquarters will remain in Rocky Mount, North Carolina, while expanding products and services. Future growth will come from market expansion, strategic acquisitions, and energy industry development. Britt Medley, president of TransTech, said, We are excitedabout the opportunity to leverage our successful history and industry knowledge, and partner with Bridge Industries to expedite our growth plan. He continued, Our management team has done a tremendous job transforming our business to enter several new and attractive energy-sector markets. We plan to continue adding quality people to our team as we further expand to meet market opportunities.



Berlin added, The team at TransTech has done an amazing job building their business in the last couple of years, positioning the company for another growth phase that we intend to support. We look forward to a successful partnership with Britt and the management team as we add the people and systems required to meet his vision for continued growth.



Bridge Industries, LLC, founded by Jeff Berlin in 2003, is a holding company based in Chagrin Falls, Ohio. Bridge invests along with operating management teams to help successful manufacturers of engineered products expand into new markets and execute strategic growth plans.Over the last several years, Bridge has focused on the growing opportunities in the energy sector with investments in manufacturers of engineered systems for oil and gas production. Investments in the energy sector have included:



July 2004 Acquired Multi Products, a producer of oil and gas equipment. Since the acquisition, Bridge has worked with management toexpand product lines and geographic distribution.



October 2005 Structured and led the acquisition of Cimmaron Gas, a manufacturer of separation and dehydration equipment for oil and gas production. After Bridge formed a partnership with management in 2005, Cimarron expanded dramatically through capital investment and an acquisition, leading to a two-year tripling of revenues and making it one of the clear industry leaders. After a successful 7 year development, Cimarron Energy was sold to Curtiss Wright in late 2012.



October 2013 Acquired controlling interest in and formed a partnership with management of TransTech Energy, a designer, manufacturer, installer and servicer of storage systems for LPG (liquid petroleum gas) and NGL (natural gas liquids).



For more information regarding TransTech Energy or Bridge Industries see www.transtechenergy.comor www.bridgeind.com.