River Associates Acquires Weaver Leather, LLC
Chattanooga, TN, February 25, 2016
River Associates Investments, LLC (“River”) a leading lower middle market private equity firm based in Chattanooga, TN, announced that it has partnered with management to acquire Mt. Hope, OH based Weaver Leather, LLC (“Weaver”), a leading brand supplying leather and nylon products and accessories into the Western-style equine, livestock, pet and arborist markets. Known for its superior quality and breadth of products, 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.
“In River Associates, we have found a partner who shares our values, respects our culture and provides Weaver with the resources it needs to grow far into the future,” said Paul Weaver, CEO of Weaver. “I am very proud of Weaver’s talented management team and employees, and I expect an excellent partnership with River over the years to come.”
“River is excited to be a part of taking Weaver to the next level of growth and performance,” Patten Pettway, Partner at River Associates, said. “Their dedication to producing quality products, providing unparalleled customer service and instilling a tremendous workplace culture should continue to propel Weaver to new levels as we explore both organic and acquisitive growth opportunities.”
River funded the transaction with equity from its sixth investment fund (River VI, L.P.). Financing was provided by Madison Capital and Northstar Capital.