Private equity firm buys Ohio sheet maker Rowmark

By Bill Bregar
Senior Staff Reporter

Published: October 2, 2013 1:52 pm ET
Updated: October 2, 2013 4:23 pm ET

Image By: Rowmark Duane Jebbett

Related to this story

Topics Mergers & Acquisitions, Film & Sheet, Extrusion

Rowmark LLC, a Findlay, Ohio-based sheet extruder that serves the engraving and decorative markets, and the thermoforming sector, has a new private equity owner. A management group that owns a stake in Rowmark will remain at the company.

Bertram Capital Management LLC of San Mateo, Calif., announced Oct. 2 it is acquiring Rowmark from Clearview Capital LLC of Greenwich, Conn. Terms were not disclosed.

Rowmark employs about 150 people in plants in Findlay and Trenton, N.C., and a warehouse in Antwerp, Belgium. The company does not release sales numbers.

"It's business as usual. We're just going to keep growing the business," said Rowmark President and CEO Duane Jebbett in a telephone interview.

In a news release, Bertram Capital partner Kevin Yamashita called Rowmark "an established market leader with strong brand recognition, supported by state-of-the-art manufacturing and unmatched global distribution network."

Rowmark's Engraving Products division is a global leader in engravable plastic sheet. Its Premier Material Concepts division makes highly engineered custom extruded sheet and rollstock for specialty thermoforming applications.

Rowmark was founded in 1987 as a division of Findlay-based pipe extruder Hancor Inc. In 1997, former Hancor CEO Fred Kremer bought Rowmark from Hancor. A few months later, Kremer and two other employees were killed in a private plane crash. The Kremer family appointed Jebbett as president in 1998.

In late 2006, Clearview Capital backed a management team that bought Rowmark from the Kremers.

Jebbett said there are 12 people in the management team that continued to have an ownership stake. He declined to say what percentage of Rowmark is owned by the management team.

Bertram Capital partner Kevin Yamashita said the management is a very important part of Rowmark. "They are staying involved with the business," he said in a telephone interview. "We're really excited to have a chance to partner with Duane and his team, and they're a big part of our level of excitement in this deal."

Rowmark has grown by adding equipment — most notably a production line that can extrude sheet up to 10 feet wide — and by acquisition. Most recently, Rowmark in 2011 bought the assets of decorative plastic sheet maker Southtech Plastics Inc. of New Bern, N.C. Rowmark then merged those operations with its own plant in nearby Trenton.


Comments

Private equity firm buys Ohio sheet maker Rowmark

By Bill Bregar
Senior Staff Reporter

Published: October 2, 2013 1:52 pm ET
Updated: October 2, 2013 4:23 pm ET

Post Your Comments


Back to story


More stories

Image

China's biggest fuel tank maker getting a US foothold

April 23, 2014 4:41 pm ET

The majority owner of China's biggest fuel tank maker is expanding its global automotive footprint with the acquisition of the fuel tank unit of...    More

Image

China's Shide Group, BASF unveil 'revolutionary' all-plastic window profile

April 23, 2014 9:10 pm ET

SHANGHAI — The PVC window profile market in Asia is expected to increase four-fold by 2025, and Chinese building products maker Dalian Shide...    More

Image

How CEO Santi is changing ITW

April 23, 2014 2:48 pm ET

Scott Santi is showing he can do more than just cut costs at Illinois Tool Works Inc.    More

Quality Vision buys ShapeGrabber

April 23, 2014 10:19 am ET

Quality Vision International Inc. of Rochester, N.Y., has purchased ShapeGrabber Inc., a maker of automated three-dimensional scanners, in a deal...    More

Image

Pregis Corp. to get new owner

April 22, 2014 11:44 am ET

The private equity owner of Pregis Corp. is selling off its North American operations for an undisclosed sum.    More

Market Reports

Market Data Book - Rankings & Lists

A one-stop download of Plastic News' exclusive annual lists and processor rankings containing essential data including sales, employees, end markets, materials and more.
EXCLUSIVE EXCEL FEATURE: full mailing address details for available plant locations.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Mold Making and Tooling Review and Outlook 2014 North America

This report provides in-depth analysis of the mold and toolmaking market for North America, including discussions of trends, opportunities, threats, the latest developments in production and labor and equipment trends impacting moldmakers.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events