M&A Deal Summary

River Associates and Northstar Capital Acquire Yale Cordage

On July 31, 2020, private equity firm River Associates and mezzanine finance firm Northstar Capital acquired manufacturer Yale Cordage

Acquisition Highlights
  • This is River Associates’ 5th and Northstar Capital’s 14th transaction in the Manufacturing sector.
  • This is River Associates’ 31st and Northstar Capital’s 92nd transaction in the United States.
  • This is River Associates’ 1st and Northstar Capital’s 1st transaction in Maine.

M&A Deal Summary
Date 2020-07-31
Target Yale Cordage
Sector Manufacturing
Buyer(s) River Associates
Northstar Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Bigelow (Financial)
Pierce Atwood (Legal)

Target

Yale Cordage

Saco, Maine, United States
Yale Cordage is a designer and manufacturer of high-performance synthetic rope and rope systems for critical, high cost-of-failure applications. Yale Cordage was founded in 1950 and is based in Saco, Maine.

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Buyer(S) 2

Buyer

River Associates

Chattanooga, Tennessee, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B 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 STATS #
Overall 32 of 38
Sector (Manufacturing) 5 of 7
Type (Buyout (LBO, MBO, MBI)) 17 of 22
State (Maine) 1 of 1
Country (United States) 31 of 36
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-31 JBC Technologies

North Ridgeville, Ohio, United States

JBC Technologies is a full-service engineering, die cutting, and supply chain partner of precision flexible components for a diverse range of end markets. JBC provides die cut and assembled components utilizing over 4,100 flexible material and component combinations, such as foams, foils, rubbers, fabrics, tapes, gaskets, and several others, including some proprietary blends developed in-house. JBC Technologies was founded in 1988 and is based in North Ridgeville, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-18 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.

Sell -
Buyer

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 STATS #
Overall 96 of 109
Sector (Manufacturing) 14 of 15
Type (Buyout (LBO, MBO, MBI)) 38 of 43
State (Maine) 1 of 1
Country (United States) 92 of 104
Year (2020) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-22 Online Labels

Sanford, Florida, United States

Online Labels provides a full suite of custom printed pressure sensitive, shrink sleeve, flexible packaging, and blank labels on sheets and rolls to small businesses, consumers, and middle-market brands via enterprise relationships and a direct-to-consumer e-commerce platform. Online Labels provides labeling solutions for consumer products such as food, health and beauty, and nutritional supplements, as well as numerous other products requiring primarily pressure sensitive labels. Online Labels was founded in 1980 and is based in Sanford, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-22 Windy City Wire Cable & Technology Products

Bolingbrook, Illinois, United States

Windy City Wire Cable & Technology Products LLC is a distributor of high-end, low-voltage wire, cable, and related low-voltage devices (cameras, DVRs, relays, etc.) serving the security, access control, CCTV, fire alarm, and home automation markets. The wire and cable are sold under the SmartWire brand name. Windy City Wire was formed in 1994 and is based in Bolingbrook, Illinois.

Sell £357M
Mergr

Product

Company

Legal