River Capital and Management Acquire Blue Wave Products, Inc.
River Capital, an Atlanta-based private investment firm, has partnered with management to purchase Blue Wave Products, Inc. (“Blue Wave”). The purchase price was not disclosed.
Based in St. Charles, Illinois, Blue Wave is a leading niche distributor of above-ground swimming pools, pool accessories and other products to internet dealers and the internet channels of large national retailers. Blue Wave serves as a one-stop shop offering more than 6,000 wholesale recreational products, including both national brands and Blue Wave branded products. Its primary products include pools, automatic cleaners, steps and ladders, winter products, games, saunas and others. The Company specializes in the inventory management of large, bulky products, direct-to-consumer fulfillment, product sourcing, and marketing services on behalf of its customers.
Jerry Wethington, Managing Principal of River Capital, said, “Blue Wave has incredible potential, with deep customer and supplier relationships, a vast product offering and a leading market position. We are excited to work with Jim Coxworth and his team to continue to grow the business.”
River Capital is one of the oldest firms of its type in the Southeast and has acquired companies in a broad range of industries with combined annual 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. For add-on acquisition candidates, the firm will consider companies with a purchase price less than $10 million.