River Associates Sells Slingmax Group to The Sterling Group
River Associates, a private equity firm based in Chattanooga, Tennessee, has completed the sale of its portfolio company, Slingmax Group, to The Sterling Group. This marks River's fourth successful exit of 2026 and follows significant growth at Slingmax during its ownership period from July 2020 through September 30, 2026. During this time, the firm expanded Slingmax’s capabilities by acquiring complementary businesses such as I&I Sling in March 2023 and Wisconsin Lifting Specialists in June 2026. These acquisitions broadened its product offerings and geographic reach across industrial sectors including energy, infrastructure, marine, utility, heavy lift, and more. River Associates has realized strong returns from the four exited investments this year, with EBITDA growing by a factor of 4.6 during their ownership period. Piper Sandler served as lead financial advisor for the transaction, while Holland & Knight provided legal counsel.
Topics: acquisition industrial manufacturing portfolio company exit private equity