River Associates Acquires Yale Cordage

Yale Cordage Acquires I&I Sling and Slingmax

April 3, 2023

Manufacturing

Yale Cordage, a portfolio company of River Associates, has acquired I&I Sling, Inc. and Slingmax, Inc., combining their synthetic rope and heavy-lift sling capabilities. The deal creates an expanded U.S.-manufacturing platform of over 230 employees serving utility, energy/offshore and infrastructure markets and is structured as an add-on to Yale Cordage (acquired by River Associates in 2020).

River Associates Acquires Pelco Products, Inc.

March 24, 2021

Manufacturing

River Associates has acquired Pelco Products, Inc., an Edmond, Oklahoma-based manufacturer of traffic signaling hardware, utility products and decorative outdoor lighting. Financing for the transaction included subordinated debt and an equity co-investment from Northstar Capital (Northstar Mezzanine Partners SBIC, L.P.) and financing from Madison Capital Funding LLC.

River Associates Acquires Presco Polymers

February 1, 2019

Manufacturing

River Associates partnered with Presco Polymers' management to acquire Presco, a Sherman, Texas-based manufacturer of commercial marking products and customized PVC films. Financing for the transaction was provided by NXT Capital and junior capital provider Northstar Capital (which also made an equity co-investment); River plans to pursue add-on acquisitions to grow Presco.

Redwood Trust Acquires Riverbend Funding (to integrate into CoreVest)

April 28, 2022

Financial Services

Redwood Trust, Inc. (NYSE: RWT) has acquired Riverbend Funding, LLC (Riverbend), a private bridge and business-purpose mortgage lender, in an all-cash transaction. Riverbend will be integrated into Redwood’s CoreVest platform to expand CoreVest’s single-asset bridge product, geographic footprint and origination/distribution capabilities; Riverbend is headquartered in Portland, Oregon with over 50 employees and originated more than $1.0 billion of loans in the past twelve months.

River Associates Acquires Caster Connection

December 19, 2022

Manufacturing

River Associates Investments acquired Caster Connection, a Columbus, Ohio-based supplier and manufacturer of industrial casters, in a transaction that closed on December 19, 2022. River funded the deal from its River VIII fund with financing from Abacus Finance and plans to grow Caster Connection as a platform and pursue add-on acquisitions.

Dead River Company Acquires Maine Energy Company

December 1, 2022

Energy

Dead River Company acquired Maine Energy Company in September, marking the end of three generations of family ownership after owner Robert Cort’s retirement. The acquisition is an add-on to Dead River’s regional heating-fuel platform (which is PE-backed by Redwood Capital Investments) and will rebrand Maine Energy offices under the Dead River name while consolidating local heating oil and propane operations in the Bangor area.