Serv-O-Matic, Inc. Completes Fifth Add-On Acquisition
Serv-O-Matic, Inc. (“Serv-O-Matic”), a River Capital portfolio company, has announced its acquisition of Valley Innovative, based in Jackson, Mississippi. Since River Capital’s acquisition of Serv-O-Matic in 1990, the Company has aggressively expanded its geographical territory, completing five acquisitions of vending operations in contiguous market areas and now operates in a five-state area of the southeast from facilities in Tennessee, Arkansas and Mississippi.
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.