Rohrer Corp., a maker of plastic and paper packaging, has been sold to private equity firm Wellspring Capital Management LLC for an undisclosed price.
Wadsworth, Ohio-based Rohrer had been owned by ShoreView Industries of Minneapolis. ShoreView, along with company management, is selling the firm.
Rohrer makes thermoformed plastic consumer packaging and paperboard, including graphically intensive blister, skin, folding carton and clamshell packaging, officials said in a news release. The firm has annual sales of $200 million, with about half of it coming from thermoforming, and ranks as North America's 27th-largest thermoformer, according to Plastics News data.
Officials said Rohrer's sales have roughly tripled since 2009, when ShoreView invested in partnership with the Rohrer family. Under ShoreView, Rohrer completed four add-on acquisitions, made significant investments in production equipment and hired new senior leadership as part of a planned transition of family executives from day-to-day management to board roles, officials said.
Rohrer's senior management team, including CEO Steve Wirrig, will continue to lead the business.
"We believe Wellspring shares our vision of delivering innovative consumer packaging solutions," he said. "This partnership supports the continued growth of our business so we can provide industry-leading packaging solutions for our customers."
Rohrer operates eight plants in the U.S. and Mexico. The firm was founded in 1973 and sells into several industries and end markets, including hardware, office supplies, batteries, consumer electronics, automotive aftermarket, consumer products and personal care.
Rohrer made a big move into plastics in 2018, when it bought Transparent Container Co. Inc., a major thermoformer based in Addison, Ill. That deal added six manufacturing sites and balanced out Rohrer's sales into plastics and paper.
Wellspring also owns Paragon Films Inc., a maker of stretch films used to secure pallet loads during shipping. Wellspring in early 2019 bought Paragon, of Broken Arrow, Okla., from Chicago-based private equity firm Wind Point Partners.
Financial firms FocalPoint Partners and Harris Williams advised Rohrer and ShoreView on the sale.
"This represents a high-profile deal in the packaging space as well as another important closed transaction for FocalPoint's growing private equity advisory practice," said Mike Del Pero, managing director of FocalPoint, which has offices in London, New York, Chicago and Shanghai.