Blue Point Capital Partners has acquired Weaver Leather, a maker of leather products in the equine, pet, leather crafting, arborist, livestock and construction markets. No financial terms were disclosed. Stout acted as financial and tax advisor in the deal.
CLEVELAND–(BUSINESS WIRE)–Blue Point Capital Partners (“Blue Point”) announced today it has partnered with management in the acquisition of its ninth Blue Point IV platform investment, Weaver Leather (“Weaver” or the “Company”). Weaver is a market leader with enthusiast brands in the equine, pet, leather crafting, arborist, livestock and construction markets. Based in Mt. Hope, Ohio, the Company is a short drive from Blue Point’s Cleveland office, aligning with the Firm’s strategy of establishing local partnerships.
For over 45 years, Weaver’s core values, culture and management philosophy have been key to its success. Known for its superior quality and breadth of products, Weaver manufactures, markets and distributes a broad line of branded and non-branded leather, nylon/synthetic, hardware and other products and accessories uniquely designed for its loyal channel partners and end consumers. The Company’s deep customer and supplier partnerships have enabled its history of growth and successful entry into new end markets and product categories.
“We are thrilled to be able to invest alongside management to support Weaver in building on its rich history of success. We were drawn to Weaver’s leading brands and niche market leadership position, along with the Company’s terrific alignment with Blue Point’s culture, value-add capabilities, enthusiast consumer investment experience and preference for local partnerships. We look forward to working alongside the talented Weaver team to execute organic and M&A driven growth initiatives,” said Blue Point Partner John LeMay.
Blue Point’s resources will support management in executing a growth strategy centered on continued product line innovation and expansion, further development of digital marketing capabilities and pursuit of acquisitions. In particular, Blue Point’s Data & Digital and supply chain capabilities will help drive marketing, branding, sourcing and product initiatives. Blue Point will also leverage its M&A capabilities to support Weaver—a true niche market category leader—to build on its successful track record of strategic acquisitions.
“Building on Weaver’s already-proven brands and broad product offering, we believe there is an excellent foundation for a successful partnership. Together with management, we have identified numerous opportunities to leverage various elements of the Blue Point value creation toolkit,” said Blue Point Principal Charley Geiger. “Simply having the opportunity to partner with the Weaver team and be part of the Company’s next chapter is exciting.”
Blue Point acquired Weaver in partnership with management, including the Company’s CEO & President Jason Weaver. “The partnership with Blue Point will allow us to further build our platform of branded niche enthusiast products,” said Weaver. “Our mission, heritage and culture align extremely well with Blue Point’s values and team. We are completely aligned with the vision and goals for the Company, and we are pleased to welcome Blue Point to the Weaver family.”
Working alongside LeMay and Geiger to complete the transaction were Blue Point Partner Sean Ward, Data & Digital Managing Director Tye Howell, Supply Chain/Asian Strategies Managing Director Dennis Wu, Senior Associates Bobby Grebenc and Laurie Kong and Associate Kate McLarney.
Blue Point was represented by BakerHostetler and Stout acted as the exclusive financial and tax advisor in connection with the transaction.
Weaver Leather (www.weaverleather.com) has leading, iconic enthusiast brands and manufactures, markets and distributes branded and non-branded leather, nylon/synthetic, hardware and other products and accessories to the equine, pet, leather crafting, arborist, livestock and construction markets. Known for its superior quality and breadth of products, Weaver has an established reputation for expert craftmanship, offering the highest quality and broadest product offering in the industry. Weaver’s domestic manufacturing and distribution operation is strengthened by deep, global supplier partnerships, enabling leading shipping times and order fulfilment.
Blue Point Capital Partners (www.bluepointcapital.com) is a private equity firm managing over $1.5 billion in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors while providing the perspectives and resources of a global organization. Blue Point has over a two-decade history of partnering with lower middle-market businesses to build processes and capabilities to achieve dramatic growth. The Firm focuses on opportunities where it can leverage its collective experience, extensive network of operating resources and unique toolkit, which includes supply chain/Asian capabilities, data and digital strategies, human capital strategy and focused add-on acquisition efforts. Blue Point typically invests in businesses that generate between $25 million and $300 million in revenue.