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

Ferro sells another piece of its plastics business

December 19, 2014 3:33 pm ET

Ferro Corp. has sold its North American polymer additives business to a private equity firm for $154 million in cash.    More

Image

Alex Brands buys iconic Shrinky Dinks toys

December 19, 2014 3:15 pm ET

First Slinky, now Shrinky Dinks. What will toy and games investment firm Alex Brands buy next?    More

Image

Thailand's SCG Chemicals buying Norwegian chemical firm Norner

December 19, 2014 9:11 am ET

Thailand's SCG Chemicals Co. Ltd. has announced it has acquired 51 percent of the shares in the independent petrochemical company Norner Holding AS...    More

Image

BASF to sell its share in Singapore JV

December 19, 2014 8:37 am ET

BASF SE has announced that it has reached an agreement for it to sell its share in the 50-50 joint venture ELLBA Eastern, at Jurong Island, Singapore ...    More

Image

Amcor buys Chinese flexible packaging plant

December 18, 2014 1:47 pm ET

Australian-based global packaging company Amcor Ltd. is buying a Chinese flexible packaging business for 211 million RMB (US$31.4 million).    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events