Holland & Knight Advises River Associates on Acquisition of Diamond Wipes

CHATTANOOGA, Tenn. (August 21, 2026) – Holland & Knight represented River Associates Investments L.P., a long-standing lower middle-market private equity firm based in Chattanooga, Tennessee, in its acquisition of Diamond Wipes Inc., a contract manufacturer of disposable wet wipes and liquid-fill personal care products. The transaction closed on August 7.

The acquisition supports Diamond Wipes' continued investment in its capabilities and customer relationships while building on the strong foundation the company has established over more than three decades. River Associates and the Diamond Wipes management team plan to pursue strategic add-on acquisitions that complement and enhance the platform.

Holland & Knight Partner Roddy Bailey (M&A) led the Firm's representation of River Associates. The Holland & Knight team also included Partners Jay Nixon and Ignacio De la Huerta and Associates Grayson Lowery and Kelcie Ouillette (M&A); Partner Sarah Burke and Associate Burke Depuy (Executive Compensation & Benefits); Partners Samuel Stone and Frederick Conrad III and Associate Lee Sands (Labor & Employment); Partner Sara Klock (FDA Regulatory); and Associate Maggie Pahl (Environmental Regulatory).

More information on the transaction can be found here.

Recently recognized as the Private Equity Law Firm of the Year by the Global M&A Network and M&A Law Firm of the Year by M&A Advisor, Holland & Knight regularly ranks among the leading M&A and private equity law firms in reputable, benchmarking league tables published by Bloomberg, LSEG, Mergermarket, PitchBook and The Deal. Through the HK Deal Flow℠ program, Holland & Knight facilitates deal leads for clients and prospective clients by matching acquisition or capital raising opportunities with buyers and investors.