Rowmark, a manufacturer of highly engineered extruded plastic sheet used for engraving and specialty applications, has been acquired by Bertram Capital.
Based in Findlay, Ohio, Rowmark represents Bertram Capital’s third platform investment in the plastics industry. In addition to the equity investment in Rowmark, Bertram Capital also provided subordinated debt to finance the acquisition.
"Rowmark is an established market leader with strong brand recognition, supported by state-of-the-art manufacturing and an unmatched distribution network," says Kevin Yamashita, Partner at Bertram Capital. "Rowmark is led by a capable and experienced management team. They have built a platform with robust operating fundamentals and long standing customer relationships across a variety of industries. We look forward to further expanding Rowmark’s footprint and accelerating the company’s growth in partnership with management."
Rowmark delivers solutions through two complementary product divisions: Engraving Products and Premier Material Concepts (PMC). The Engraving Products division has the most recognised global brand of engravable sheet worldwide, which is sold exclusively through an international network of authorised distributors in more than 80 countries. PMC is a leading provider of highly engineered custom extruded sheet and roll stock for specialty thermoforming applications across a diverse set of end markets.
"Rowmark represents exactly the type of business Bertram Capital seeks to partner with, offering a compelling value proposition, world-class management team, and differentiated engineering and manufacturing capabilities," says Jeff Drazan, Managing Partner of Bertram Capital. "By applying our Bertram High 5SM business building methodology, we believe Rowmark is uniquely positioned for significant growth opportunities, through both organic initiatives and add-on acquisitions."
Bertram Capital was introduced to Rowmark by Piper Jaffray (formerly Edgeview Partners), a leading international investment banking firm.
"We are grateful to John Tye, Managing Director in Piper Jaffray’s Diversified Industrials & Services group, for his leadership in managing the Rowmark sale process," says Kevin Yamashita. "Rowmark met the rigorous criteria we apply to our investments and represents the type of industry leading company we seek to invest in at Bertram Capital. John and his team ran a thorough, fair and comprehensive sale process."
