Omega Environmental Technologies has merged with Global Parts Distributors and Santech Industries. Financial terms were not announced. The seller is Global Temperature Control, which is backed by Owner Resource Group. River Associates Investments is majority shareholder of Omega, and Owner Resource Group will be a minority investor in the company. Harris Williams advised Global Temperature Control. Irving, Texas-based Omega is a distributor of aftermarket automotive truck and off-road air conditioning products.
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New York-based specialty finance group Abacus Finance has provided $16 million in senior cash-flow financing to support the leveraged buyout of Industrial Magnetics, Inc by Chattanooga-based River Associates Investments. Headquartered in Boyne City, Michigan, IMI provides permanent magnets and electromagnets for lifting, fixturing, conveying and magnetic separation. PRESS RELEASE Abacus Finance Group, LLC (Abacus), a [...]
River Associates Investments has sold its interest in Coining Holding Co. to AMETEK for $148 million. Montvale, N.J.-based Coining makes highly engineered, custom-shaped solder and brazing performs used for joining applications in microelectronics packaging and assembly. River Associates, a Chattanooga, Tenn.-based PE firm, took a controlling stake in August 2007. The deal generated a gross IRR of 76% and over 6x the original investment, River Associates said.
Just shy of four years after investing in the Miami-based deli meats manufacturer National Deli, the Chicago-based private equity firm Arbor Investments has sold its stake to Chattanooga, Tenn.-based River Associates Investments for 2.7x its investment. The parties withheld terms of the sale. PRESS RELEASE: Chicago, Illinois-based Arbor Investments announced that it has sold its portfolio company [...]