River Capital and Management Acquire General Hardware Company, Inc.
River Capital, an Atlanta-based private investment firm, has partnered with management to acquire General Hardware Company, Inc. (“General Hardware”), from Geniune Parts Company. The purchase price was not disclosed.
Headquartered in Atlanta, Georgia, General Hardware 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. The Company services over 4,000 accounts from four distribution centers in Georgia, Florida and North Carolina.
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.