Private equity firm Riverside Co. of Cleveland has added to its plastics holdings by purchasing Rutland Plastics Inc., a maker of plastisol compounds and screen printing inks in Pineville, N.C.
Rutland is a leader in North American screen printing ink, officials said in a Sept. 3 news release. Its plastisol compounds are sold into automotive parts and a range of industrial products. The firm was founded in 1962 and operates four plants in North America, as well as plants in the United Kingdom, Peru and India.
Riverside plans to grow Rutland and drive continued market share gains, officials said in the release. Riverside’s most recent plastics deal came in October when it sold injection molder and extruder Coeur Holding Co.
The Rutland buy reverses a string of four plastics-related divestitures since 2008 for Riverside. The firm also owns PVC window extruder Sunrise Windows Ltd. Of Temperance, Mich. Riverside’s portfolio includes more than 70 companies. The firm has been involved in more than 300 transactions since opening in 1988.