I wanted to share with you all the announcement made today by our new financial partner, River Associates.
With this move, Presco is stronger than ever and ready to satisfy your safety marking products and engineered films needs for years to come!
-Joe Hardt
RIVER ASSOCIATES ANNOUNCES ITS 92ND INVESTMENT:
PRESCO POLYMERS
CHATTANOOGA, TN, FEBRUARY 07, 2019
River Associates Investments, L.P. (“River Associates” or “River”), a longstanding lower-middle market private equity firm based in Chattanooga, TN, announced that it has partnered with management to acquire Presco Polymers, L.P. (“Presco”).
Based in Sherman, TX, Presco is a manufacturer of commercial marking products and customized vinyl films. Since the company’s inception more than 75 years ago, it has been creating products for a variety of end markets including the electrical, plumbing, utilities, forestry, surveying and irrigation industries.
“I could not be happier about our association with River Associates,” said Joe Hardt, CEO of Presco. “We conducted a national search looking for a partner with a successful track record of building companies like Presco while also sharing some of our core values and beliefs. I am confident that we have found the right partner in River Associates. I look forward to the next chapter of Presco’s success.”
“We are excited to have Presco join the River family,” said Patten Pettway, Partner at River Associates. “The quality of their products and service, and position in the market are all strong attributes of the company. The management team is eager to pursue growth, and we are thrilled that they have chosen to partner with us for their next chapter.”
River funded the transaction with equity from its seventh investment fund (River VII, L.P.). Patten Pettway, Partner, and Blake Lewis, Vice President, led the process for River Associates. Financing was provided by NXT Capital and Northstar Capital. River Associates was advised by Waller Lansden Dortch & Davis. Presco was advised by Alantra and Munsch Hardt Kopf & Harr.
Presco will seek add-on acquisitions of businesses that manufacture or supply similar or complementary products to the end markets referenced above. Please contact Mark Jones for additional information. To learn more about Presco, visit their website www.presco.com.
ABOUT RIVER ASSOCIATES INVESTMENTS
River Associates Investments (“River”) 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 28 years. Target businesses can be privately held, private equity-backed, or divestitures from larger companies. River is opportunistic as to industry and has invested in numerous manufacturers, high margin distributors, industrial service providers and business service companies. The firm targets U.S. & Canadian companies typically with EBITDA in the $3-12 million range. Since its founding in 1989, River has initiated more than 90 transactions, many of which have been strategic add-on acquisitions to platform companies. The partners at River have collectively worked together for over one hundred years.