August 8, 2008
August 8, 2008- (Atlanta, GA) - McKenna Long & Aldridge LLP announced today that it advised River Capital on its acquisition, through a newly-formed subsidiary, of C D N T (Can-Do National Tape) Company, a Nashville-based business and leading distributor of a variety of adhesive tape products and related tape-converting services. The purchase price was not disclosed.
River Capital, based in Atlanta, Georgia, and founded in 1983, is one of the oldest investment firms in the Southeast and has acquired or invested in companies in a broad range of industries with combined revenues in excess of $600 million. River Capital primarily invests in light manufacturing, distribution and select service companies with purchase prices of $10 million to $50 million. The acquisition of Can-Do National Tape was the first transaction to be closed out of River Capital’s Fund V.
“It’s really exciting to close the first deal in Fund V, which also marks a very successful chapter in our long-term relationship with McKenna Long & Aldridge,” said Jerry Wethington, Managing Principal of River Capital Partners. “We couldn’t be happier,” he added.
”We appreciate our long relationship with River Capital and the trust and confidence River Capital places in our firm," said Wayne Bradley, co-chair of the firm’s Corporate Department and a partner based out of the Atlanta and New York offices. “River Capital's success is evident in that they are now on their fifth fund, a level few private equity investors ever achieve” Bradley, led the team of lawyers that represented River Capital in this most recent transaction.
McKenna Long & Aldridge LLP’s corporate practice, which is a cornerstone of the international law firm of 450 attorneys and public policy advisors, provides counsel on a wide range of issues, including mergers and acquisitions, corporate finance and securities, joint ventures and strategic alliances. Recent transactions include representation of The Avascent Group in the management-led buyout of DFI Corporate Services, and the sale of the intelligent services division of Global Analytical Technology Services, Inc. (GAITS) to newly-formed DC Capital Partners.
For more information, please contact Wayne Bradley at wbradley@mckennalong.com.