River Associates Completes the Sale of Slingmax Group to The Sterling Group

Marking River Associates' Fourth Successful Exit of 2026

CHATTANOOGA, Tenn., Oct. 6, 2026 /PRNewswire/ -- River Associates, a longstanding lower middle market private equity firm based in Chattanooga, Tennessee, is pleased to announce the sale of Slingmax Group ("Slingmax" or the "Company") to The Sterling Group. The transaction closed on September 30, 2026, marking River Associates' fourth portfolio company exit of the year. The sale follows a period of significant growth and strategic investment at Slingmax and continues a successful year of realizations for River, with aggregate EBITDA across the firm's four exited investments growing 4.6x during River's ownership.

River Associates acquired Yale Cordage in July 2020, establishing the platform's foundation with a leading manufacturer of high-performance synthetic rope for critical applications where failure carries significant consequences. In March 2023, Yale Cordage acquired I&I Sling and Slingmax, bringing together complementary rope, sling and rigging businesses. Mufson Howe Hunter & Company advised the sellers of I&I Sling and Slingmax. I&I Sling added fabrication and service capabilities, while Slingmax brought highly engineered lifting products and an international network of licensed manufacturers. The platform was rebranded as Slingmax, with a broader product offering and opportunities for cross-selling across the combined businesses.

During River's ownership, the Company invested in leadership, commercial capabilities, engineering and manufacturing capacity. The June 2026 acquisition of Wisconsin Lifting Specialists further expanded the platform's presence into the Upper Midwest and added fabrication, inspection and certification capabilities. Today, Slingmax provides synthetic slings, synthetic and wire rope, rigging hardware, hoists and related accessories to customers across the industrial, heavy lift, utility, energy, infrastructure and marine markets.

"We are incredibly thankful for River Associates' partnership and support over the past several years," said Chris Chrisafides, CEO of Slingmax. "River understood what made our business special and gave our team the resources and flexibility to build on those strengths. Together, we expanded the business while remaining focused on the quality, innovation and customer relationships that have defined Slingmax for decades. We are proud of what we accomplished together and excited about the opportunities ahead for our employees, licensees and customers."

"Chris and the entire Slingmax team have done an outstanding job building a differentiated business with a strong reputation in highly demanding end markets," said Stuart Vyule, Principal at River Associates. "It has been a privilege to partner with the team and support the Company's growth over the course of our investment. Slingmax is well positioned for its next chapter, and we look forward to watching Chris and his team continue to build on the strong foundation they have established."

Craig Baker, Stuart Vyule, Jacob Poe and Colby Turner from River Associates worked alongside Slingmax's management team on the transaction. Piper Sandler served as the lead financial advisor to River Associates and Slingmax in the sale transaction, and Holland & Knight served as legal advisor.

The sale of Slingmax represents River Associates' fourth portfolio exit of 2026. Across these four realized investments, River partnered with management teams to support significant growth and value creation, culminating in successful sales to unaffiliated buyers and liquidity for the firm's investors. The firm has also completed two new platform investments, and seven add-on acquisitions across Funds VII and VIII this year.

For more information or to share potential opportunities, contact Mark Jones or Kirby Poindexter.

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 more than 130 transactions and is investing its eighth investment fund with $345 million of committed capital. For more information, visit www.riverassociates.com.

SOURCE River Associates Investments