River Capital Partners, an Atlanta private equity firm recently acquired Can-Do National Tape Co., a Nashville company that distributes adhesive tape and related products. McKenna Long & Aldridge partner Wayne Bradley advised River Capital on the matter.

Terms weren’t disclosed, but River Capital’s acquisitions typically range in size between $10 million and $50 million.

The Can-Do National Tape acquisition was made using funds from River Capital’s fifth investment vehicle. Private equity funds raise separate investment vehicles, or funds, from different sources, and then invest that money in buyouts, equity stakes or elsewhere. Bradley notes that it’s not an easy proposition for a private equity firm to be working on its fifth investment fund over the span of more than 20 years

“You’ve got to have a successful track record to attract other investors” to new funds, Bradley said. “You essentially have got to have four good funds in a row” to be able to raise money for a fifth fund, he said.

Founded in 1983 to invest its partners’ own money, River Capital has since expanded to raise funds both from individuals and from institutional investors. River Capital’s typical investment time frame is about five years, Bradley said. Some of River Capital’s past investments include American Threshold Industries Inc. of Asheville, N.C., and Lara’s Crafts Inc. of Union, S.C.

River Capital works with a variety of banks and lenders to provide financing for its buyouts, although it most often works with MassMutual Financial Group, Bradley said. He declined to say if MassMutual provided debt financing for the Can-Do National Tape buyout.

Harwell Howard Hyne Gabbert & Manner partner Kris Kemp in Nashville advised Can-Do on the River Capital sale.