CLEVELAND--(BUSINESS WIRE)--Blue Point Capital Partners and its portfolio company, Weaver Leather (“Weaver”), are pleased to announce the acquisition of Ohio Travel Bag (“OTB”), a distributor of specialty hardware, fittings and supplies used in a variety of industries and end markets including leather goods, pet, equine, handbags, trunks and crafts.
Established in Cleveland in 1908, OTB provides a diverse selection of high-quality products backed by exceptional customer service.
“The core of Ohio Travel Bag has always been our dedicated team and homegrown culture — with a commitment to product selection, quality, prompt shipping and customer support,” said OTB CEO Michael Fox. “Our rich history of consistent quality delivery and unwavering dedication to the customers and markets we serve aligns perfectly with the principles and culture embodied by the Weaver team. These shared values — and the benefits of a local partnership — checked every box for us.”
Founded in Mt. Hope, Ohio, Weaver manufactures, markets and distributes premier brands in the equine, pet, leather crafting, arborist, livestock and construction markets. Weaver has been proud to offer high-performing products with a strong culture and exceptional customer service for over 45 years.
“The Weaver team is thrilled to have found a partner that is truly aligned in every sense of the word — not only in sophisticated product offerings and loyal customers — but in core values and an established dedication to service,” said CEO Jason Weaver. “We are excited to welcome Ohio Travel Bag to the Weaver family, and we look forward to the growth we will achieve together.”
With support from Blue Point, Weaver and OTB will continue building on their successes with an expanded product portfolio and enhanced customer relationships.
“We are delighted to see a longstanding local business relationship cultivated into such a well-fitting partnership that will allow both companies to better serve their customers,” said Blue Point Principal Charley Geiger. “OTB is a fantastic strategic and cultural fit with Weaver’s family of premier brands.”
Ohio Travel Bag, based in Solon, Ohio, is a distributor of specialty hardware, fittings, supplies and related products used in a variety of end markets, including leather goods, pet, equine, handbag, trunk and crafts. OTB offers thousands of SKUs, including rings, fasteners, buckles, snaps, closures, adornments, handles, locks, latches, hinges, wheels and similar products.
Weaver Leather has iconic enthusiast brands and manufactures, markets and distributes branded and non-branded leather, nylon/synthetic, hardware and other products and accessories to the equine, pet, leather crafting, arborist, livestock and construction markets. Known for its superior quality and breadth of products, Weaver has an established reputation for expert craftsmanship, offering the highest quality and broadest product offering in the industry. Weaver’s domestic manufacturing and distribution operation is strengthened by deep, global supplier partnerships, enabling leading shipping times and order fulfillment.
Blue Point Capital Partners is a private equity firm managing over $1.5 billion in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors while providing the perspectives and resources of a global organization. The Firm focuses on opportunities where it can leverage its unique global supply chain, data & digital and human capital capabilities as well as its collective experience, extensive operating resource network and focused add-on acquisition efforts. Blue Point typically invests in businesses that generate between $30 million and $300 million in revenue.
Note: Certain statements about Blue Point Capital Partners made by portfolio company executives herein are intended to illustrate Blue Point Capital Partners’ business relationship with such persons, including with respect to Blue Point Capital Partners’ facilities as a business partner, rather than Blue Point Capital Partners’ capabilities or expertise with respect to investment advisory services. Portfolio company executives were not compensated in connection with their participation, although they generally receive compensation and investment opportunities in connection with their portfolio company roles, and in certain cases are also owners of portfolio company securities and/or investors in Blue Point Capital Partners-sponsored vehicles.
