River Associates acquires I&I Sling and Slingmax
03 April 2023
Chattanooga, TN-based River Associates Investments, a lower middle market private equity firm, has purchased I&I Sling and Slingmax. This acquisition, in addition to River’s purchase of Yale Cordage in 2020, solidifies the combined businesses as a leader of custom solutions in synthetic ropes and heavy lift slings serving the utility/electric, energy/off-shore, infrastructure/construction, arborist, inland marine and commercial marine industries.
Each company will continue to operate autonomously across all 50 states, Canada and other countries.
“Yale Cordage is in a growth phase, with a host of new opportunities and new direction, making this an exciting time as we approach our 75th year,” said Nino M. Granatiero, CEO, Yale Cordage. “Together with I&I Sling and Slingmax we now have over 230 dedicated team members focused on providing a high level of customer delivery performance with industry-leading quality.”
Scott St. Germain will continue to serve as CEO of I&I / Slingmax and the company will remain operating in its current headquarters in Aston, PA. St. Germain said joining forces with Yale will expand the company’s breadth of synthetic rope and roundsling products and capabilities.
“This new venture strengthens our engineering efforts to accelerate new product development and improve upon our current line of exclusive rigging solutions, which have enhanced customer safety and improved job site efficiencies for decades across the globe,” he added. “Now with the synergy of Yale Cordage working alongside us, there’s no limit to what our combined companies can accomplish together. We are very excited!”