Rowmark LLC, a maker of engineered extruded plastic sheet, is again being sold by one private equity firm to another.
The Findlay, Ohio-based company makes sheeting for the engraving, awards and signage markets.
Bertram Capital, which has owned the firm since 2013, is selling Rowmark's parent firm, EXT Acquisitions Inc., to Windjammer Capital Investors.
"Rowmark is an established market leader with strong brand recognition, supported by state-of-the-art manufacturing and an unmatched understanding of the market channel and new product development," said Rob Quandt, managing director at Windjammer, in a statement
"The company is led by a solid, experienced management team that has built a platform with robust operating fundamentals, long standing customer relationships and a proven track record of consistent growth. We are excited about the future of Rowmark, as we fuel and accelerate the company's growth," he continued.
Bertram Capital said it used acquisitions and technology to expand the business during its ownership.
"By executing an aggressive add-on acquisition strategy, leveraging our in-house technology team, and working collaboratively with the company's management team, we successfully catapulted Rowmark to a market leading position in the engineered plastics industry," said Jeff Drazan, managing partner of Bertram Capital, in a statement.
Bertram Capital acquired Rowmark from Clearview Capital in October 2013. Clearview Capital invested in the company in 2007 when it teamed up with members of management to purchase the company from the Kremer family.
Rowmark began in 1987 as a division of Hancor Inc., a pipe extruder, and was eventually purchased by Hancor CEO Fred Kremer, who was later killed in a private plane crash in 1997. Duane Jebbett was appointed president in 1998.
EXT Acquisitions Inc. also has a division called Johnson Plastics Plus, which is in distribution.
Bertram, during its ownership, acquired Johnson Plastics, LaserBits and BurLane, moves the company said resulted "in a substantial distribution platform" that provided closer access to its customers.
"We had the opportunity to partner with a phenomenal management team led by Duane Jebbett to bring together some of the most highly recognized and respected brands in the industry, further solidifying the Company's presence as the market leader," said Kevin Yamashita, a partner at Bertram Capital and investment lead for Rowmark, in a statement.
