River Associates Sells Slingmax Group to The Sterling Group
News related to:Slingmax Group · 1 min read
CHATTANOOGA, Tenn., Oct. 6, 2026 /CourierPR/ -- River Associates, a longstanding lower middle market private equity firm based in Chattanooga, Tennessee, has completed its fourth successful exit of 2026. The firm sold Slingmax Group to The Sterling Group on September 30, 2026. This transaction marks a significant milestone, as it follows a period of substantial growth and strategic investment at Slingmax.
Slingmax Group was established as a platform company in 2020 when River Associates acquired Yale Cordage, a leading manufacturer of high-performance synthetic rope for critical applications where failure carries significant consequences. In March 2023, Yale Cordage expanded its platform by acquiring I&I Sling and Slingmax, bringing together complementary rope, sling, and rigging businesses. The acquisition of Wisconsin Lifting Specialists in June 2026 further expanded Slingmax's presence into the Upper Midwest, adding fabrication, inspection, and certification capabilities.
During River Associates' ownership, the company invested in leadership, commercial capabilities, engineering, and manufacturing capacity. The firm's investment in Slingmax has resulted in a 4.6x increase in EBITDA across the firm's four exited investments in 2026. River Associates has a history of investing in niche manufacturers, high-margin distributors, industrial service providers, and business service companies, with a focus on the lower middle market for over 35 years.
Chris Chrisafides, CEO of Slingmax, expressed gratitude for River Associates' partnership and support over the past several years.
Stuart Vyule, a Principal at River Associates, praised the Slingmax team for their outstanding job in building a differentiated business with a strong reputation in highly demanding end markets.
The sale of Slingmax represents River Associates' fourth portfolio exit of 2026. Since its founding in 1989, River Associates has completed more than 130 transactions and is currently investing its eighth investment fund with $345 million of committed capital. The firm continues to focus on the lower middle market, targeting businesses with initial EBITDA in the $3-12 million range.