LINCOLN, Neb., April 18, 2019 (GLOBE NEWSWIRE) -- Stonehenge Capital today announced a $2 million investment in New Generation Construction Group, Inc., (NGC), marking Stonehenge’s second investment from its Nebraska Small Business Loan Fund through the Nebraska New Markets Job Growth Investment program. The investment will support NGC’s expansion project at its new headquarters located in the Telegraph District. The Telegraph District is a $75 million redevelopment in a distressed area of downtown Lincoln.
Aptly named for its focus on innovative solutions as a commercial general contractor in Nebraska, NGC has quickly grown from a company focused on specific projects with the University of Nebraska in Lincoln to a company with professionals and large, commercial projects in multiple states across the Midwest. Founded in 2009 by Justin Hernandez, NGC takes pride in its work as a commercial general contractor with experience in hospitality, office, retail, education, energy and specialized medical projects.
Stonehenge’s investment in NGC will allow the company to hire 40 new employees so it can complete a backlog of projects, recruit new business and contracts and expand its headquarters.
“The capital we receive from Stonehenge Capital will allow us to fulfill our multimillion-dollar pipeline by continuing to hire qualified professionals and expand to a highly economically distressed community in Lincoln,” said Justin Hernandez, President of NGC.
As a relationship-driven firm, NGC performs 80 percent of its work in Nebraska. In the fall of 2009, NGC Group secured its first job to demolish the empty 186-room Villager Hotel on the corner of 52nd and O Street in Lincoln. Seven years later, NGC completed an award-winning redevelopment project of the same city block, illustrating NGC's growth, commitment and full-circle community impact over the years.
“NGC’s focus on client relationships, innovative solutions utilizing technology and providing unique services in the industry have bolstered the company from its six-employee team in 2009 to the growing community developer it is today,” said L’Quentus Thomas, Director of Community Development at Stonehenge. “We are honored to be a part of NGC’s growth and future through our small business loan fund.”
About Stonehenge Capital:
Since 1999, Stonehenge Capital (www.stonehengecapital.com) has operated at the nexus of finance and community development, providing transformational capital in underserved markets that has grown our nation’s small businesses, created jobs for hard-working families and revitalized urban and rural communities. Stonehenge Capital is not a typical finance firm – it is a thought leader in investment capital, producing strong returns for investors and impactful social returns for communities. Stonehenge Capital fosters collaboration across a team of seasoned and talented professionals in Baton Rouge, Columbus, New York, Dallas and other locations, who leverage two decades of expertise and relationships to provide innovative financing solutions where they are most needed on a national scale.
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