Diamond Wipes operates facilities in Chino, California, and Fredonia, Wisconsin, providing full-service manufacturing from product R&D and formulation to distribution. The company serves a diverse client base across the healthcare, cosmetic, and household sectors. CEO Steve Gallo noted that the partnership aims to leverage the firm’s thirty-year history to accelerate growth and expand internal capabilities.
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River Associates Expands Portfolio with Diamond Wipes Acquisition
Chattanooga-based private equity firm River Associates has finalized its purchase of Diamond Wipes, a contract manufacturer specializing in personal care and sanitizing products. The deal, which closed August 7, marks the second platform acquisition for River Associates in 2026 and highlights a push into the North American wet wipe market.
Ken Trent, a principal at River Associates, stated that the firm plans to build on Diamond’s existing operational foundation through both organic development and future bolt-on acquisitions. The team is currently scouting for companies that manufacture wipes, liquids, or related consumer goods to integrate into the platform. This transaction, the seventh overall investment for River Associates in 2026, was funded through the firm’s eighth investment fund, River VIII, L.P. The firm was advised by Holland & Knight, while Diamond Wipes, formerly owned by Nolan Capital, received counsel from Intrepid Investment Bankers and O'Melveny & Meyers.
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