River Associates Acquires Action Fabricators, Inc.
Chattanooga, TN, September 9, 2015
River Associates Investments, LLC (“River”) a leading lower middle market private equity firm based in Chattanooga, TN, announced today that it has partnered with management to acquire Grand Rapids, MI based Action Fabricators, Inc. (“Action Fab”), a premier converter of custom designed flexible materials, including custom made tapes, adhesives, non-adhesive backed foams and other specialty materials.
“Finding the right partner that understood our vision for Action and would preserve the culture and family-values that got us to where we are today, was very important to us. From the beginning, it was evident River was a great fit for us and their interest and partnership mentality came through loud and clear.” said Jon Rudolph, President of Action Fabricators. “We are excited to partner with an experienced group like River as we guide Action through its next stage of growth.”
“We are excited to partner with the team at Action Fab. They 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 funded the transaction with equity from its sixth investment fund (River VI, L.P.). Financing was provided by Crescent Capital and Maranon Capital.