Double E Acquires Convertech
Chattanooga, TN, March 14, 2018
River Associates Investments (“River Associates”), a longstanding lower middle market private equity firm based in Chattanooga, TN, announced the acquisition of Convertech, Inc. (“Convertech”) by its West Bridgewater, MA portfolio company Double E Company LLC. The acquisition closed March 14, 2018. Terms of the transaction are not being disclosed.
Headquartered in Wharton, NJ, Convertech is a leading supplier of web handling components to the narrow web industry. Known for high-quality air shafts in a full range of sizes, orientations and gripping methods while providing reliable service and fast delivery, Convertech’s dominance in narrow web complements Double E’s technological leadership in the converting industry. Larry Taitel, Convertech’s President stated, “The Convertech/Double E partnership is ideal for both companies. It allows us to leverage our combined advantages to deliver better products, technologies, and solutions to our customers even more rapidly.”
Convertech joins Appleton Manufacturing, Epoch Industries, and Double E Europe as part of the Double E platform of companies manufacturing mission-critical converting products. “The Convertech acquisition continues Double E’s drive to provide the industry’s most comprehensive portfolio of web handling solutions,” said Tom Pranka, Double E CEO. “We are excited to welcome Convertech into the Double E family. This year Convertech is celebrating its 40th anniversary manufacturing outstanding products and is considered the leader in the narrow-web segment of our industry. We are proud that Convertech has chosen partnering with Double E as the avenue to accelerating their growth in the coming years.”
Double E Company is the premier supplier of engineered solutions for Core Chucks, Core Shafts, Reel Spools, Safety Chucks, Core Plugs, and associated accessories to the global web handling industry. Its recent acquisitions of Appleton Mfg. (2016) and Epoch Industries (2015) broadened the company’s product offerings to include Core Cutters, Material Handling Solutions, Salvage Technologies, and Idler Rollers. River Associates and the management team at Double E continue to seek complementary strategic acquisition partners for the company. Please contact Mark Jones for additional information.