River Associates Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, River Associates has acquired 6 companies.

River Associates’ most common sectors for investment aremanufacturing (18%) and business services (13%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (59%) and secondary buyout (18%). In total, River Associates has invested in 22 US states and 2 different countries.

In the last 3 years, River Associates has exited 3 companies. The Firm’s most common exit type is secondary buyout (52%). River Associates’ largest (disclosed) exit occurred in 2011 when it sold Coining for $148M.

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M&A Summary

  • M&A Total Activity64
    • M&A Buy Activity39
    • M&A Sell Activity25
  • Total Sectors Invested 18
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 14
  • M&A Advisors 8

River Associates

River Associates Investments, LP

633 Chestnut Street, Suite 1640,
Chattanooga, Tennessee 37450
United States
(423) 755-0888
www.riverassociates.com

River Associates is a private equity firm that targets buyouts, divestitures and recapitalizations of lower middle-market companies. River looks for investments in manufacturing, high-margin distribution, industrial services and 'non-faddish' retail companies. The Firm focuses on companies located in the US and Canada with minimum sales of $15 million and EBITDA of $3 to $12 million. River Associates avoids investing in heavily regulated industries as well as start-up, high-technology, commodity or natural resource companies. River Associates was formed in 1989 and is based in Chattanooga, Tennessee.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Automotive, Building Materials, Business Services, Chemicals, Communications, Consumer Services, Defense, Distribution, Electrical Equipment, Engineering, Environmental, Food, Furniture, Machinery, Manufacturing, Plastics, Retail, Test/Measurement Equipment

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Recapitalization, Acquisition Financing, Secondary Buyout, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue 15 100
Target EBITDA 3 12
Investment Size - -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (1.4/yr) # 32 1 3 - 3 - 39
Sell (1.0/yr) # 20 2 3 - - - 25
vol $170M $170M
  64

Most Recent M&A

Company Date Value Type
ID Label, Inc. 2024-11-15 - Buyout (LBO, MBO, MBI)
Lake Villa, Illinois · www.idlabelinc.com
Minerva Beauty, Inc. 2024-08-02 - Buyout (LBO, MBO, MBI)
Monroe, Georgia · www.minervabeauty.com
Dollamur Sport Surfaces 2024-04-19 - Buyout (LBO, MBO, MBI)
Fort Worth, Texas · www.dollamur.com
Caster Connection, LLC 2022-12-19 - Buyout (LBO, MBO, MBI)
Columbus, Ohio · www.casterconnection.com
Humphrey’s Industrial Products, Inc. 2022-09-06 - Buyout (LBO, MBO, MBI)
Rochester, New Hampshire · www.rubber-group.com
Double E Co. LLC 2022-06-22 - Secondary Sale
West Bridgewater, Massachusetts · www.ee-co.com
Premier Parking 2022-03-30 - Trade Sale
Nashville, Tennessee · www.premierparking.com
TopDown, Inc. 2022-03-07 - Recapitalization
North Hollywood, California · www.topdownauto.com
Hoskin Scientific Ltd. 2022-01-12 - Buyout (LBO, MBO, MBI)
Burnaby, British Columbia · www.hoskin.ca
Wheat Montana Bakery & Deli 2021-04-01 - Secondary Sale
Three Forks, Montana · www.wheatmontana.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Quikserv Holdings, Inc. 2018-03-23 Easi-Serv Products, Inc. 2019-04-22 2
Houston, Texas · www.quikserv.com Burnaby, British Columbia · www.easi-serv.com

M&A by Sector

Sector Current # Value All-time # Value
Manufacturing 5 (45%) - 7 (18%) -
Business Services 1 (9%) - 5 (13%) -
Machinery 1 (9%) - 4 (10%) -
Consumer Products 2 (18%) - 3 (8%) -
Building Materials 1 (9%) - 2 (5%) -
Chemicals - - 2 (5%) -
Distribution 1 (9%) - 2 (5%) -
Electrical Equipment - - 2 (5%) -
Food - - 2 (5%) -
Packaging - - 2 (5%) -
Apparel/Textiles - - 1 (3%) -
Automotive - - 1 (3%) -
Consumer Services - - 1 (3%) -
Engineering - - 1 (3%) -
Environmental - - 1 (3%) -
Medical Products - - 1 (3%) -
Plastics - - 1 (3%) -
Technology Hardware - - 1 (3%) -
Total 11 - 39 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 10 (91%) - 37 (95%) -
  Ohio 2 (18%) - 5 (13%) -
  Texas 3 (27%) - 4 (10%) -
  Georgia 1 (9%) - 3 (8%) -
  Tennessee - - 3 (8%) -
  Florida - - 2 (5%) -
  Pennsylvania - - 2 (5%) -
  New Jersey - - 2 (5%) -
  Michigan - - 2 (5%) -
  Illinois 1 (9%) - 1 (3%) -
  Oklahoma 1 (9%) - 1 (3%) -
  New Hampshire 1 (9%) - 1 (3%) -
  Maine 1 (9%) - 1 (3%) -
  Indiana - - 1 (3%) -
  Colorado - - 1 (3%) -
  California - - 1 (3%) -
  Arkansas - - 1 (3%) -
  Washington - - 1 (3%) -
  Nebraska - - 1 (3%) -
  Montana - - 1 (3%) -
  Missouri - - 1 (3%) -
  Massachusetts - - 1 (3%) -
  Maryland - - 1 (3%) -
Canada 1 (9%) - 2 (5%) -
  British Columbia 1 (9%) - 1 (3%) -
  Ontario - - 1 (3%) -
Domestic 10 (91%) - 37 (95%) -
Cross-border 1 (9%) - 2 (5%) -
Total 11 - 39 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 10 (91%) - 23 (59%) -
Secondary Buyout - - 7 (18%) -
Recapitalization - - 3 (8%) -
Special Situations/Distressed - - 3 (8%) -
Acquisition Financing - - 1 (3%) -
Divestiture - - 1 (3%) -
Growth Capital 1 (9%) - 1 (3%) -
Total 11 - 39 -

Exits by Deal Type

Type Total # Value
Secondary Sale 13 (52%) -
Trade Sale 6 (24%) -
Trade Sale - Public Company 4 (16%) 170M (100%)
Recapitalization 1 (4%) -
Unknown 1 (4%) -
Total 25 $170M

Top M&A Advisors

Financial Deals
Brookwood Associates
 1
Baird
 1
Lincoln International
 1
Legal Deals
Waller
 3
Bass, Berry & Sims
 2
Holland & Knight
 2

Deal Values

sell # Total
$100M to $1B 1 $148M
< $100M 1 $22M
TOTAL $170M
Largest Coining, Inc.
$148M (2011-05-09)

M&A Connections

Deals
Acquired from
Investor(s)
18%
7 (18%)
Strategic(s)
3%
1 (3%)
Exited to
Investor(s)
56%
14 (56%)
Strategic(s)
28%
7 (28%)

Investor Summary

Investor Type

Private Equity Firm

Size

Large

PE Assets

1.0B USD

Established

1989

Specialist/Generalist

Generalist

Leadership

Jim Baker

Co-Managing Partner

Mike Brookshire

Co-Managing Partner

Craig Baker

Partner

Mark Jones

Partner

Patten Pettway

Partner

FAQ

When was River Associates founded?

River Associates was founded in 1989.

What type of investor is River Associates?

River Associates is a private equity firm.

Where is River Associates headquartered?

River Associates is headquartered in Chattanooga, Tennessee.

How much capital does River Associates have under management?

River Associates has 1.0B USD under management.

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