The Rubber Group Acquires Cooper Products

Chattanooga, TN, December 15, 2023

 

 

River Associates Investments, L.P. (“River Associates”), a longstanding lower middle market private equity firm based in Chattanooga, TN, announced the acquisition of Cooper Products, Inc. (“Cooper Products”) by its Rochester, NH based portfolio company, Humphrey’s Industrial Products, Inc. (D/B/A “The Rubber Group”). The transaction closed on December 15, 2023.

Based in Laconia, NH, Cooper Products engineers and manufactures custom bearing seals and precision molded products from their 33,000-square-foot facility. Their products are used for demanding applications in the Automotive, Aerospace, Industrial, and Medical/Dental industries.

“We are thrilled to welcome the Cooper Products team to The Rubber Group (TRG),” commented Rob Pruyn, Chief Executive Officer of The Rubber Group.  “This strategic move not only expands TRG’s manufacturing capacity but also offers an additional production location, strengthening our commitment to providing unparalleled solutions to our valued customers. Cooper Products’ specialized capabilities bring a new dimension to our product offerings, enhancing our ability to meet the evolving needs of our diverse customer base. We are particularly excited about the alignment of our core values with Cooper’s customer-first culture. This common commitment to prioritizing customer satisfaction will undoubtedly contribute to seamless integration and foster a collaborative environment that benefits both teams. As we move forward, we are confident that the synergies between TRG and Cooper Products will lead to innovative advancements, increased efficiency, and an even higher level of service for our customers.”

Cooper Products will continue to trade under its own brand in The Rubber Group portfolio.

Debt financing for the transaction was provided by Bell Capital. River Associates and the management teams at The Rubber Group and Cooper Products continue to seek complementary strategic acquisition partners for the company. For more information, please reach out to Mark Jones.

About The Rubber Group: 

Founded in 1986, The Rubber Group manufactures and distributes custom compression and injected molded rubber products, including grommets, bellows, bumpers, seals, and hoses. The Company’s products are often used in critical, high cost of failure applications across a broad range of end markets, including Medical, Oil and Gas, General Industrial, and Transportation. The Company is ISO 9001 certified, ITAR compliant, and FDA registered. More information is available at rubber-group.com.

About Cooper Products: 

Since 1984, Cooper Products has engineered and manufactured custom bearing seals, bonded seals, snap wires, and other precision molded metal-to-rubber components. The Company’s products are often used in specialized bearing applications in the Automotive, Aerospace, and Defense industries. The Company is an IATF 16949 2016-certified provider. More information is available at cooperproducts.com.

About River Associates: 

River Associates is a private equity firm based in Chattanooga, TN, that focuses exclusively on investing in the lower middle market and has served as a financial sponsor partner for management teams for over 30 years. Target businesses can be privately held, private equity-backed, or divestitures from larger companies. River Associates is opportunistic as to industry and has invested in numerous manufacturers, high margin distributors, industrial service providers and business service companies. River targets U.S. & Canadian companies typically with EBITDA in the $3-12 million range. Since its founding in 1989, River Associates has initiated more than 115 transactions. River is currently investing its eighth investment fund, which has $345 million of committed capital. For more information, visit riverassociates.com.