Packaging firm Rohrer acquires Hogue
WADSWORTH, OHIO — Packaging firm Rohrer Corp. is off to a roaring start in 2012, making two acquisitions in the first two months of the year.
The latest addition for Wadsworth-based Rohrer is Hogue Printing Solutions, a commercial and package printing specialist based in Mesa, Ariz. In a Feb. 13 news release announcing the deal, Rohrer President and CEO Scot Adkins said that Hogue's “equipment, products and culture fit us very nicely, and their location is perfect for serving the western part of the country.”
In addition, Hogue uses botanical inks and recycles 95 percent of its waste. No purchase price was disclosed in the deal.
News of the acquisition comes only five weeks after Rohrer bought thermoformer Buckell Plastic Co. of Lewistown, Pa. Rohrer itself has been owned by private equity firm ShoreView Industries of Minneapolis since early 2010.
Proto Labs IPO could raise up to $65M
MAPLE PLAIN, MINN. — Proto Labs Inc. plans to offer 4.3 million shares of common stock at a price between $13 and $15 per share in its initial public offering, according to a recently updated registration statement with the Securities and Exchange Commission.
According to the filing, the company plans to apply to the New York Stock Exchange for a listing under the ticker symbol PRLB. Jefferies & Co. Inc. and Piper Jaffray & Co. are acting as joint book-running managers for the offering.
Maple Plain-based Proto Labs said the money raised is intended for working capital and general corporate purposes. The offering is expected to raise between $56 million and $65 million.
Proto Labs describes itself as an online and technology-enabled manufacturer of quick-turned computer numerically controlled machined and injection molded custom parts for prototyping and short-run production.
It has 511 employees and 2011 sales of $98.9 million. The company has manufacturing operations in Maple Plain; Telford, England; and Ebina, Japan.
Mauser buying S.C. drum maker Varicon
BRÜHL, GERMANY — Mauser AG continues to expand its North American industrial container base with the acquisition of Varicon LLC of Greenville, S.C.
Mauser plans to close Varicon's operations in Greenville and Cleveland.
Mauser will take over Varicon's operations that use virgin and post-consumer high density polyethylene to make tight-head and open-head drums. National Container Group, a Mauser sister company, will assume Varicon's drum-reconditioning activities.
Varicon is known for its post-consumer containers and as a service provider. Its manufacturing and headquarters are in Greenville, and the firm has a distribution facility near Cleveland.
All of Varicon's operations will move to Mauser's facility in Charlotte, N.C., according to a statement from Mark Daniels, president of Varicon.
He said operations will continue for a few months in Greenville as the transition occurs. Daniels said the move to nearby Charlotte will provide improved efficiency for Brühl-based Mauser.
Geomembrane maker GSE completes IPO
HOUSTON — GSE Holding Inc., a Houston-based maker of polyethylene geomembranes and liners, went public with a stock offering Feb. 10.
GSE's per-share stock price opened at $10.30 on Feb. 10 and was at $11.85 in late trading Feb. 16, for an increase of 15 percent. The initial public offering originally had 7 million shares expected to be priced at $9 per share.
The firm had planned to go public in December, but delayed that move because of market conditions. GSE employs almost 600 and had sales of about $460 million in 2011 — an increase of about 35 percent vs. 2010. The firm's 2011 profit also grew almost 50 percent to $44 million.
In a public filing, GSE officials said the firm leads the global geomembrane market with a 24 percent share. Major end-use markets for GSE's geomembranes and liners include mining, waste management, liquid containment, coal-ash containment and shale oil and gas.
For full-year 2010, GSE's sales grew 18 percent to almost $343 million.