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Management team acquires RIVCO
Penacook-based Riverside Millwork Company, or RIVCO, has been acquired in a buyout by the current management team.
The acquisition, noted CEO Lynn C. Bartley in an internal announcement, means that “for the first time since 1988 RIVCO is once again owned by local management.”
Bartley said the new owners “have long desired to return ownership of the company to management so as to continue our dedicated service to our valued customers and provide long term stability for our associates.”
Founded in 1962, RIVCO is one of New England’s largest producers and wholesale distributors of building materials sold directly to the contractor trade. It manufactures its products at production facilities in Penacook and Nashua and represents nationally branded products in all product categories.
In addition to Bartley, the management team includes: Armand L. Plourde, executive vice president, operations; Donald J. Bealko, vice president, marketing and business development; Richard W. Hinch, vice president, sales; and Timothy J. Larkin, chief financial officer. – NHBR STAFF
