River Capital Sells General Hardware, Inc. to Management and a Private Investment Firm
River Capital, an Atlanta-based private investment firm, has sold its interest in General Hardware Company, Inc. (“General Hardware”) to management and an investor group. The purchase price was not disclosed.
General Hardware, based in Atlanta, Georgia, is the largest independent hardware distributor in the United States servicing the southeastern United States and the Caribbean. General Hardware distributes general merchandise including hardware, housewares, electrical appliances, sporting goods, plumbing supplies and lawn and garden chemicals and equipment. In 1985, the Company acquired Dykes Restaurant Supply, Inc.
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.