October 2006 - River Capital through its holding company, New Image Group, Inc., has acquired the assets of Kelly’s Crafts, Inc.

River Capital, an Atlanta based private investment firm, has announced its purchase of Kelly's Crafts Inc. which will operate as a wholly-owned subsidiary of New Image Group, Inc. The purchase price was not disclosed. Kelly's Crafts manufactures, designs, imports and sells kids' craft items for the hobby and craft industry. The company's product line which includes suncatchers, glass stain, frames, craft sand, buttons, and seasonal products and can be found in major retailers throughout the United States. New Image Group, Inc., headquartered in Union, South Carolina, was formed to facilitate the investment in and development of complementary craft and home decor companies.

Jerry Wethington, Chairman of the Board of New Image Group and Managing Director of River Capital, "Kelly's Crafts provides New Image with an outstanding product offering of kids' crafts along with a brand that is well known among many of the large national retailers. This acquisition further demonstrates our commitment to developing one of the premier craft and home décor companies in the industry."

River Capital is one of the oldest firms of its type in the Southeast and has acquired companies in a broad range of industries with combined annual revenues in excess of $600 million. River Capital primarily invests in light manufacturing, distribution and select service companies with purchase prices of $10 million to $50 million. For add-on acquisition candidates, the firm will consider companies with a purchase price less than $10 million.