FOR IMMEDIATE RELEASE
Director of Marketing
RAINIER INDUSTRIES ANNOUNCES NEW CEO, PARTNERS WITH LFM CAPITAL
Tukwila, WA (October 11, 2021) – Rainier Industries announces the promotion of Chris Inverso to CEO. Scott Campbell, Rainier’s long-time CEO, will continue as an owner and board member.
Inverso, who started with Rainier in 2014, was promoted to General Manager earlier this year, in a planned step to his ultimate transition to CEO. Inverso, a Washington native and graduate of the University of Washington, is a high-energy leader who brings a depth of experience and business acumen to his role. More important, Inverso has a sincere passion for serving Rainier’s customers and employees in the same manner that Rainier has done for over 125 years.
“Rainier has a rich history, market-leading products, and a dedicated workforce. Scott Campbell set a high bar for serving Rainier’s customers and employees, and he did so in an authentic and personal way. I’m humbled to follow in his footsteps and lead Rainier into the future.”
Simultaneously, Rainier announces its partnership with Nashville-based investment firm LFM Capital. LFM is a private equity firm focused on U.S.-based manufacturing companies. Rainier and LFM have a shared interest in fostering a culture of continuous improvement and operational excellence. LFM embraces the diversity inherent in Rainier’s divisions and will provide expert guidance and operational support to grow the company in the years to come. Seattle-based Meridian Capital served as financial advisor to Rainier on the Transaction.
“I made the initial decision to sell a controlling interest in Rainier about a year ago. I tried to retire once before, and since returning as CEO in 2019, I have not been in a hurry to get back to retirement, though it has always been my goal. Successfully navigating through reinvigorating the company and more recently the pandemic, while our business has thrived has been especially fulfilling,” said Scott Campbell. “I will continue to be minority owner, a board member, and the landlord of our buildings in Washington State and North Carolina. I also look forward to providing ongoing support to Rainier and its Executive team.”
“Rainier has a tremendous track record of success and we are excited to build on that legacy. Rainier’s products are differentiated in the marketplace and serve a wide variety of attractive end markets,” commented LFM Managing Director Chris Lin. He continued, “We look forward to partnering with Chris Inverso and the incredible team at Rainier to leverage that successful foundation to drive growth and operational excellence.”
“We are excited to partner with a company that has such a rich history. We are extremely well-aligned from a cultural perspective and Rainier’s vertically integrated manufacturing processes are very impressive,” LFM Operating Partner Ken Hoefling added.
Campbell has been majority owner of Rainier Industries since 1984 when he purchased the company from his father, Robert B. Campbell. Since then, he has grown the company exponentially through acquisition and innovation as well as expanding the company’s footprint with plants in Washington State and North Carolina.
“My sincere thanks to everyone at Rainier for your loyalty, support, and hard work,” says Campbell. “What a great way to celebrate our 125th anniversary!”
About Rainier Industries
Founded in 1896, Rainier Industries (originally named Puget Sound Tent and Duck) built canvas tents for prospectors headed to Alaska for the Klondike Gold Rush. Originally located on a dock in downtown Seattle, the company expanded into manufacturing awnings and moved into downtown, changing its name to Puget Sound Tent and Awning. In 1992, the company changed its name to Rainier Industries.
Today, Rainier is composed of three divisions – Display, Shade, and Shelter The company makes a variety of products that improve lives and lifestyles. From wall tents, yurts, and cottages to retractable power screens and awnings, branded environments and experiential marketing elements, commercial tents, and industrial products, Rainier uses visionary creativity, unique engineering, and precision manufacturing to make the best Display, Shade, and Shelter products on the market.