River Associates Completes Sale of SFG to Victor Capital Partners

CHATTANOOGA, Tenn., Feb. 24, 2026 /PRNewswire/ -- River Associates Investments, L.P. ("River Associates"), a long-standing lower middle market private equity firm based in Chattanooga, Tennessee, is pleased to announce the sale of its portfolio company, Specialty Fenestration Group ("SFG" or the "Company"), to Victor Capital Partners ("Victor Capital"). Financial terms of the transaction were not disclosed.

Headquartered in Houston, Texas, SFG is a specialty fenestration platform comprised of two industry-leading brands, Quikserv and United States Bullet Proofing ("USBP"), each with over 35 years of leadership in their respective markets. Through its portfolio of high-security windows, doors, louvers, and transaction systems, SFG serves a diverse set of end markets, including quick-service restaurants, pharmacies, financial institutions, government and education facilities, healthcare providers, and other high-security environments.

River Associates formed a partnership with Quikserv's founder Jason Epps in March 2018 through the acquisition of Quikserv, united by a shared vision to build on the Company's strong foundation and pursue growth into adjacent, higher-security applications. River Associates assisted the Company in completing two strategic acquisitions, including the acquisition of USBP in May 2021. The acquisition of USBP united the two brands under the SFG umbrella to streamline customer access, enhance operational efficiency, deepen collaboration in product development and manufacturing, and increase market reach across both brands. River Associates also helped Jason professionalize the organization through building out SFG's management team, investing in further operating capabilities, and strengthening the Company's foundation required to scale.

"River Associates was our first institutional partner, and they have been a true partner to our team and our brands in every aspect," said Jason Epps, Chief Executive Officer and founder of SFG. "From day one, they brought strategic perspective, deal execution experience, and the resources to help us pursue our vision, while respecting the culture and customer-first mindset that have always defined Quikserv and USBP. During our partnership, we extended our product breadth, integrated operations, strengthened our leadership team, and built a sustainable and scalable platform. We are forever grateful for River Associates' collaboration and partnership approach, and we are excited to build on this foundation with Victor Capital."

"We are incredibly proud of our partnership with Jason and the entire SFG team. They did an outstanding job driving organic growth, securing new customers and integrating two strategic acquisitions," said Stuart Vyule, Principal at River Associates. "During our hold period, SFG more than quadrupled sales and EBITDA and is exceptionally well positioned for its next phase of growth."

BlackArch Partners served as financial advisor to River Associates and SFG in the sale transaction. Holland & Knight served as its legal advisor.

About River Associates:
River Associates is a private equity firm based in Chattanooga, TN, which has focused exclusively on investing in the lower middle market for over 35 years. Target businesses can be privately held, private equity-backed, or divestitures from larger companies in the U.S. and Canada with initial EBITDA in the $3-12 million range. River Associates is opportunistic as to industry and has invested in numerous niche manufacturers, high margin distributors, industrial service providers and business service companies. Since its founding in 1989, River Associates has completed 125 transactions and is investing its eighth investment fund with $345 million of committed capital. For more information, visit www.riverassociates.com.

CONTACT: Laura Baggett, [email protected]

SOURCE River Associates Investments