ST. PAUL, MN--Rudder Capital announced today that Patrick (Rick) J. Engels will join their organization as CEO. He comes to Rudder from Broadsign International where he served as their CEO.
"Rick is a great addition to our team at Rudder. He brings many years of industry experience to Rudder and a rejuvenated vision that will drive our organization in a very positive way," said Ron Noden, president and one of the Founders of Rudder. "The addition of Rick Engels to our team will allow me to focus on our customers to build our revenue base and continue to fuel the fast growth we have experienced at Rudder."
Rudder has obtained financing from investment funds managed by Valens Capital Management, LLC, which together with its affiliate, Laurus Capital Management, LLC, manages assets collectively valued at over one billion dollars. The Laurus/Valens funds specialize in generating value within the small and micro-cap arena. "We believe Rudder's unique combination of technical skills and national deployment capabilities could be disruptive," said Sayan Navaratnam of Laurus.
"I am truly fortunate to be joining the strong team already in place at Rudder," said Engels. "The company is well positioned for the expected growth in technology industries for nationwide installers and deployers of AV and IT networks. I am eager to help Rudder capture the market opportunity and be part of a fundamental shift happening in the new media industry such as Digital Signage. Our ability at Rudder to help our customers successfully navigate through the installation process will help our customers run a more successful business."