Weaver Leather is Sold to Blue Point Capital
Chattanooga, TN, March 16, 2021
River Associates Investments (“River Associates” or “River”) is proud to announce the sale of its portfolio company, Weaver Leather (“Weaver”) to Blue Point Capital Partners (“Blue Point”), a private equity firm located in Cleveland, OH. Financial terms of the transaction are not disclosed.
Headquartered in Mt. Hope, Ohio, Weaver manufactures, markets, and distributes a broad line of enthusiast branded and non-branded leather, nylon/synthetic, hardware, and other products into the equine, livestock, pet, leather crafting, construction, crafting and arborist markets. Since its founding in 1973, Weaver has been known for its superior quality and dedication to its core values, culture, and management philosophy. Through Weaver’s breadth of products and successful entry into new end markets and product categories, the growing company has established a reputation for expert craftsmanship and developed strong relationships with its customers and suppliers.
Throughout its ownership of Weaver, River Associates focused on leveraging the Company’s management depth and general platform capabilities to grow the business both organically and by seeking add-on acquisitions. River achieved these aims through the completion of a strategic add-on acquisition in the equestrian helmet space, several investments that expanded the facility and created additional capacity, the addition of several new product lines, and the development of the management team.
“Our partnership with River Associates was a high point in the Weaver story and an important part of our evolution as a company,” said Jason Weaver, CEO & President of Weaver Leather. “Their thoughtful and collaborative approach helped us refine our strategy and strengthen our brand in the markets we serve all while preserving our unique company culture and core values. The support they provide, both financial and strategic, is built on a foundation of trust established by strong relationships. We are a better company for having partnered with River Associates and are excited how Weaver is positioned for the future after our 5 years together.”
“We have been honored to work with Jason and the entire Weaver team,” said Patten Pettway, Partner at River Associates. “Weaver’s ability to make quick yet well thought out decisions enabled the team to accomplish all of our strategic initiatives and more during our 5-year hold. Our partnership, built on trust and communication, supported the company through multiple growth cycles, any challenge that arose, and a global pandemic. We believe in this team, are grateful for their friendship, and look forward to all they will accomplish in their next chapter.”
The investment banking firm Lincoln International, LLC advised and represented River Associates and Weaver in the sale transaction.