Any truth to the rumor that Weaver Leather purchased Ohio Travel Bag?

[MikeRock]

Blue Point Capital Partners has announced the acquisition of Ohio Travel Bag, a Solon supplier and manufacturer and specialty hardware, fittings and related materials for a variety of end markets, including leather goods, as an add-on for its Mount Hope, Ohio-based platform company Weaver Leather.

They go on and on about Weaver and it's great history and friendly staff.  Like someone said, that is history....  today they could give a horse puckey about customer service.  Even my Amish buddy has found other suppliers that might be more pricey, but they listen and respond, unlike Weaver.  Since I sometimes piggy back off his large purchases, we both wonder what the future holds for OTB...  The article claims that OTB will continue to service it's customers with the same staff and at the same Solon, Ohio location.  Time will tell I guess.

Edited December 14, 2022 by MikeRock

[Tugadude]

There is a big difference between a company such as Weaver purchasing OTB and a private equity firm doing so.  So as it turns out, Weaver Leather was originally bought by this equity firm and they have now added OTB to their portfolio.

In my experience, this is only one step in a longer journey and both Weaver and OTB are likely to be sold again within the next 5 to 7 years.  The real question it seems to me is how are the companies going to be operated, separately, as was the case before the purchase, or are they going to be folded into one entity.  I've seen both outcomes.

[ArkieNewbie]

I'm a credit manager at a steel mill and in my professional experience when private equity comes in and buys one of our customers it is all down hill from there. They will bleed successful well run companies dry to finance the operations of other ventures and not reinvest back info the once successful company. 

I buy hardware from OTB because of their quality. I'm holding out hope that it does not fall victim to cost cutting measures implemented by the private equity firm. Quality and service are usually the first two to go. 

[Dwight]

My first guess is that the packages will have a lot more "made in china" legends or the cat tracks in chinkanese that say the same thing.

It's a shame that the original owners sell out . . . and I understand the financial reasons for many of them . . . I just wish it could be some other  way.

May God bless,

Dwight

[Tugadude]

A woman who worked at OTB used to come visit here from time to time.  Perhaps she will make an appearance and let us know what she is able to.

Honestly it may be too early to tell what  is going to happen over time.  Another thing that sometimes happens is the companies are run "business as usual" for a time and then all heck breaks loose.

[MikeRock]

Well, the cat just dragged this email into my litterbox:

https://www.weaverleathersupply.com/pages/retail-store

Announcing their new retail space.  Looks wide open....  take a look.

 

[Tugadude]

Reminds me of some Tandy locations with the large tables in the middle of the showroom.

By the way, I noticed in the advertising that the Customer Service Manager's name is Mae Miller.  Folks who do business with them and who have noticed a decline in satisfaction should contact her.  That's the only way they know about the issues sometimes.  Don't look at it as complaining, but giving them priceless feedback.