River Associates Investments has acquired Action Fabricators, a maker of tapes, adhesive and non-adhesive-backed foams, rubbers, and plastics that are used in automotive, electronics, appliance, security, furniture and health care applications.
“The team at Action Fab are the kind of talented, honest and hardworking people that we enjoy being in business with,” said Mike Brookshire, a Partner at River Associates. “Management has done a great job establishing a solid business, and we look forward to helping the team continue to explore both organic and acquisitive growth opportunities.”
River Associates invests in companies with revenues of $20 million to $100 million and EBITDA of $3 million to $12 million. Sectors of interest include niche manufacturing, high margin distribution and industrial services. The firm was founded in 1989 and to date has completed 75 investments, including platform and add-on acquisitions. River Associates is based in Chattanooga, TN (www.riverassociatesllc.com).
Maranon Capital (www.maranoncapital.com) and Crescent Capital (www.crescentcap.com) provided mezzanine financing and made equity co-investments to back the acquisition of Action Fabricators by River Associates.
Action Fabricators was founded in 1989 and operates out of a 70,000-square-foot facility located in Grand Rapids, MI (www.actionfab.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 9-10-15
