Secondary Buyout • Consumer Products

Blue Point Capital Partners Acquires Weaver Leather

On March 18, 2021, private equity firm Blue Point Capital Partners acquired consumer products company Weaver Leather from River Associates and Northstar Capital

Acquisition Context
  • This is Blue Point Capital Partners’ 4th transaction in the Consumer Products sector.
  • This is Blue Point Capital Partners’ 40th transaction in the United States.
  • This is Blue Point Capital Partners’ 11th transaction in Ohio.

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M&A Deal Summary

Date March 18, 2021
Target Weaver Leather
Sector Consumer Products
Buyer(s) Blue Point Capital Partners
Sellers(s) River Associates
Northstar Capital
Deal Type Secondary Buyout

Target Company

Weaver Leather

Mount Hope, Ohio, United States
Weaver Leather is a provider of leather and nylon products and accessories into the Western-style equine, livestock, pet, and arborist markets. Weaver manufactures, markets, and distributes a broad line of branded and non-branded leather, nylon/synthetic, hardware, and other products and product accessories uniquely designed for its four consumer-focused divisions (equine, livestock, pet, and arborist) - and its wholesale supply division. Weaver Leather was established in 1973 and is based in Mount Hope, Ohio.
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Buyer Overview 1

Buyer

Blue Point Capital Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Blue Point Capital Partners is a middle-market private equity firm focused on investments throughout the US, Canada, and Europe. The Firm looks to commit $10 to $50 million of equity capital in companies generating sales of $30 to $300 million and EBITDA of at least $5 million. Blue Point looks for control investments that arise from management led buyouts, recapitalizaitons, and companies in need of growth capital. Sectors of interest include transportation components, metals processing, plastics, packaging, specialty distribution, environmental, building materials, industrial textiles, transportation/logistics, chemicals, industrial outsourcing, and engineered components. Blue Point will not invest in real estate, restaurants, retail, or companies operating in highly regulated industries. Blue Point Capital Partners was formed in 1990 and has offices in Cleveland, Ohio; Charlotte, North Carolina; and Seattle, Washington.


Deal Context for Buyer #
Overall 44 of 54
Sector: Consumer Products 4 of 5
Type: Secondary Buyout 10 of 12
State: Ohio 11 of 13
Country: United States 40 of 50
Year: 2021 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-22 Transtar Industries

Cleveland, Ohio, United States

Transtar Industries is a distributor and remanufacturer of automotive aftermarket transmission repair parts and manufacturers of automotive refinishing products. Transtar Industries was founded in 1975 and is based in Cleveland, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-16 Stax

Boston, Massachusetts, United States

Stax is a global management consulting firm serving corporate and private equity clients across a broad range of industries including software/technology, healthcare, business services, industrial, consumer/retail, and education. The firm partners with clients to provide data-driven, actionable insights designed to drive growth, enhance profits, increase value, and make better investment decisions. Stax was founded in 1994 and is based in Boston, Massachusetts.

Buy -

Seller Profiles 2

SELLER

River Associates

Chattanooga, Tennessee, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 1.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

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.


Deal Context for Seller #
Overall 21 of 25
Sector: Consumer Products 1 of 1
Type: Secondary Buyout 11 of 13
State: Ohio 3 of 3
Country: United States 20 of 24
Year: 2021 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-31 Slingmax Group

Aston Township, Pennsylvania, United States

Slingmax Group is a manufacturer and supplier of synthetic-fiber slings, wire-rope slings, and rigging accessories used in heavy lifting and material-handling applications. The Company produces proprietary sling products such as the Twin-Path synthetic roundsling (and related products like adjustable bridles, protective covers, etc.), as well as multi-part wire rope slings and rigging accessories like equalizer blocks. Slingmax Group is based in Aston Township, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-24 Pelco Solutions

Edmond, Oklahoma, United States

Pelco Solutions is a company that provides traffic-management hardware and safety infrastructure products — combining several specialized brands under one umbrella to serve municipalities, utilities, and transportation agencies. Pelco Solutions was founded in 1985 and is based in Edmond, Oklahoma.

Buy -
SELLER

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.


Deal Context for Seller #
Overall 55 of 81
Sector: Consumer Products 3 of 8
Type: Secondary Buyout 19 of 26
State: Ohio 2 of 2
Country: United States 53 of 77
Year: 2021 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-10 Fresche Solutions

Montreal, Quebec, Canada

Fresche Solutions is an application modernization and management solutions, provider. Fresche specializes in helping companies achieve their IT and business goals by better managing and evolving their IBM I applications. Fresche Solutions was founded in 1976 and is based in Montreal, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-24 Pelco Solutions

Edmond, Oklahoma, United States

Pelco Solutions is a company that provides traffic-management hardware and safety infrastructure products — combining several specialized brands under one umbrella to serve municipalities, utilities, and transportation agencies. Pelco Solutions was founded in 1985 and is based in Edmond, Oklahoma.

Buy -