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

Kydex, Allen Extruders joined under Sekisui SPI name

September 17, 2014 4:12 pm ET

Sekisui Chemical Co. Ltd. is combining plastic sheet makers Kydex LLC and Allen Extruders LLC under one roof as Sekisui SPI.    More

Badger buys competitor Joseph Homa

September 17, 2014 4:04 pm ET

Badger Plug Co. has extended its protective plugs customer base by acquiring and closing a rival, Joseph Homa Consultants Inc. of Montreal.    More

Image

American Renolit sees steady gains in the film market

September 16, 2014 11:51 am ET

American Renolit Corp. has changed its product mix, changed its customer base and managed to grow in a market that was initially skeptical about the...    More

Image

Flexibility for complexity key for Brampton

September 16, 2014 11:26 am ET

Blown film machinery maker Brampton Engineering Inc. is well positioned to meet growing demand for complex film structures, highly customized...    More

Image

Primex finds success among diverse product offerings

September 15, 2014 3:09 pm ET

What was once a run-down stretch of road in Richmond, Ind., has given way to building after building of extrusion machinery at Primex Plastics Corp. t...    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

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

Upcoming Plastics News Events

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

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

More Events