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Selected Former
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W.R. Case & Sons Cutlery Co. (Bradford, Pennsylvania)
- Case Cutlery produces a wide range of pocketknives, hunting knives, special
edition collector knives and accessories. In business for over 100 years, the
company enjoys strong brand awareness. River Associates purchased Case out of
bankruptcy court in 1990. New management was installed immediately
thereafter, and in one year the company returned to profitability. River and
management sold the company in 1993.
United Knitting, Inc. (Cleveland, Tennessee) - United Knitting
produces an extensive line of innovative, high performance stretch fabrics
for body wear, swimwear, athletic/active wear, branded sportswear and
intimate apparel. In 1991, River Associates acquired a position in the
company through a buy out of two of the four partners. The remaining partners
continued to run the company. River Associates sold its position to a
synergistic buyer in 1994.
Advanced Photographic Solutions, L.L.C. (Cleveland, Tennessee)
- APS
is an independent wholesale photo finishing operation for professional
photographers. Independent school photographers represent the company's
largest customer segment. River Associates was familiar with the company and
its owners due to its close proximity to Chattanooga.
River partnered with management to acquire the company out of Chapter 11
bankruptcy in 1995. APS
was sold to management in 1998.
Southwest Recreational Industries, Inc. (Austin, Texas) - In 1994,
while exploring the opportunity to acquire AstroTurf Industries out of
Chapter 11, River was introduced to Southwest Recreational Industries, Inc.
Southwest was the #2 company (AstroTurf #1) specializing in the installation
of synthetic running tracks and synthetic playing fields. River acquired 50%
of Southwest and used it as a vehicle to acquire AstroTurf. The combined
entity ultimately became the largest designer, manufacturer and installer of
synthetic playing fields and tracks in the world. Management realized
significant cost savings after the merger as AstoTurf quickly returned to
profitability. River and management sold the investment in late 1996 to a
strategic buyer.
Cady Industries, Inc. (Pearson, Georgia)
- Cady is a leading producer of a broad range of synthetic fabric products to
a wide variety of markets including the agricultural, textile and
construction industries. Cady was introduced to River Associates in 1993 by
an accomplished operator who was seeking a financial partner to acquire Cady.
During the five year majority ownership, River helped management complete two
add-on acquisitions and a major plant expansion. These efforts produced a
100% increase in sales and nearly a 200% increase in profits. The company was
sold to a financial buyer in 1998.
Jaymar Furniture Company, U.L.C. (Terrebonne, Quebec, Canada)
- Jaymar manufactures a complete line of medium priced upholstered seating
products for residential and contract customers. A majority of the product
line is upholstered in imported leather with the balance in fabric. The
company sells primarily to customers in Canada and the United States.
Jaymar was acquired in 2000 from the retiring founder. River Associates
partnered with key company management, including the President and Chief
Operating Officer who were both existing shareholders, and remained
continuing shareholders, to effect the transaction. River Associates was
introduced to Jaymar by an independent buy-side business broker in the
northeast. In 2003, Jaymar was acquired by a publicly held Canadian furniture
manufacturer.
WRS Infrastructure &
Environment, Inc. (Tampa, FL)
– WRS is an environmental remediation, construction, consulting and
engineering company serving both the governmental and industrial markets. The
company has multiple locations throughout the country. The company was
acquired in 1997 as a management led “spin-off” from Westinghouse
Corporation. After working with shareholder management to refocus the company
on core profitable business, River Associates sold its interest in the
company in December of 2003.
Capitol USA Group (Dalton, GA) – Capitol manufactures and
distributes a wide range of flooring installation related accessories
including carpet-binding tape, adhesives, synthetic flooring cushion and tack
strip. The initial platform company of ESHCO was acquired in 1995 in
partnership with an operating executive. Four add-on acquisitions were
subsequently effected which substantially increased sales and profits.
Capitol was sold to a strategic buyer in December of 2004.
Terra Renewal Services (Dardenelle, AR)
– TRS is a leading provider of sludge management services to a variety
of industries including poultry, paper, agriculture, food processing, animal
food and waste recycling as well as municipalities and utilities. In 2002,
River Associates partnered with the company owners to recapitalize the
business and provide company shareholders with substantial on-going equity
ownership. The company continued
its history of profitable growth and geographic expansion, and in February of
2005, and River Associates exited the company through a recapitalization
effected by a financial buyer.
Tooling
Technology, LLC. (Ft. Laramie, OH):
Tooling manufactures cast aluminum molds primarily for the plastic
thermoforming industry and specializes in large custom molds for automotive and
other industrial applications. River Associates partnered with the
company’s president to effect a recapitalization in 1997. After
several add-on acquisitions to the Tooling platform, River Associates exited
the company in 2006.
Signature Special Event Services, LLC (Frederick, Maryland) - Signature Special Event
Services, LLC is one of the largest fully-integrated special events rental
businesses in the United States.
The company provides customers with tents, climate controlled heating and
cooling equipment, power generation and distribution equipment and a wide
variety of ancillary equipment including flooring, carpeting, staging, and
temporary kitchens. Customers include major sporting events such as the U.S.
Open golf tournament, large corporate events and smaller local events such as
weddings and graduations. Signature has branches in Maryland, North Carolina, Florida and California.
River Associates partnered with management to acquire the company from its
parent, United Rentals North America, in 2003. The company was grown
substantially via a California
add-on acquisition and an expanded focus on disaster relief serves. In
2006, the company was sold to a strategic buyer.
A World of Tile, LLC (Denver,
CO; Salt Lake City,
UT; Albuquerque,
NM, Phoenix, AZ) – A World
of Tile is a chain of retail tile stores. Focused exclusively on stone,
ceramic and porcelain tile, A World of Tile buys directly from foreign and
domestic tile manufacturers allowing the company to compete with building
centers and wholesale distributors. The company further distinguishes itself
by maintaining an inventory that is both up to date, extensive and includes
exclusive patterns. River Associates partnered with the company founders and
an operating executive to effect a recapitalization transaction in January
2004 and exited in 2006.
Liberty Wire and Cable
(Colorado Springs, CO) – Liberty Wire and Cable is a premier global
supplier of a complete line of wire and cable products along with connectors
and connector systems, cable assemblies, interconnects and a broad range of
related accessories. Core products are sold primarily for audio/video and
security applications to customers serving the residential, commercial and
broadcast industries as well as selected OEM’s. River Associates
partnered with the company founders to effect a recapitalization in September
of 2004 thanks to a regional investment bank based in Denver, CO
and exited in 2006.
Consolidated Utility Services, Inc (CUS) (Omaha, NE)
– CUS provides a full spectrum of world-class utility damage prevention
process services and solutions, including underground utility locating, one
call management, and sub surface utility engineering services. The Company
provides value to its customers by offering an outsourced solution for these
non-core activities. Through its ProMark and
Great Plains Locating subsidiaries, Consolidated’s field technicians detect
and mark the presence of millions of buried utility and telecom facilities
every year. Through its Great Plains One Call subsidiary, Consolidated
operates customer service and call centers that serve as clearinghouses for
locate requests made in accordance with state “call before you dig” laws.
Through its North American Locating subsidiary, Consolidated provides
sub-surface utility engineering services, which represent a convergence of
detection, mapping, marking, planning and non-destructive excavation
techniques. The Company also provides value to its customers through
outsourced records management, data management, field
audit and survey services. The Company’s primary markets are in the East,
Southeast, Mid-West and
Plains States.
The initial acquisition of ProMark was completed
in December of 2004 thanks to a
Middle-Atlantic regional investment bank. The subsequent add-on of
Great Plains was completed in January of 2005. In early
2007, River Associates exited the investment via a sale of the company to a
larger private equity fund.
River Associates Investments, LLC
633
Chestnut Street, Suite 1640
Chattanooga,
TN 37450
Phone: (423) 755-0888
Facsimile: (423) 755-0870
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