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

Coveris makes another flexible packaging buy

August 22, 2014 9:34 am ET

Coveris Holdings is continuing its rapid acquisition pace, this time picking up flexible print specialist Learoyd Packaging (Holdings) Ltd. to boost...    More

Image

German injection molders Metz-Werke and Inotech to collaborate

August 21, 2014 11:47 am ET

German injection molding companies Metz-Werke GmbH & Co. KG and Inotech Kunststofftechnik GmbH have announced that they have joined forces to bring...    More

Image

Inteplast expands in corrugated sheet with Coroplast deal

August 21, 2014 5:28 pm ET

Packaging major Inteplast Group has acquired its main competitor in corrugated plastic sheet, Coroplast Inc. Inteplast gets corrugated sheet plants...    More

Image

NanoHolding, Applied Nanotech merge to form PEN Inc.

August 21, 2014 4:44 pm ET

Nanotechnology firms NanoHolding Inc. and Applied Nanotech Holdings Inc. are merging to create PEN Inc., a publicly held firm whose product mix will...    More

Image

Report predicts growth for flexible packaging

August 21, 2014 12:34 pm ET

Flexible packaging in the United States grew last year and is expected to continue to grow this year, according to a new report by the Flexible Packag...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

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

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

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

More Events