Bertram Capital Announces Acquisition of Rowmark
Transaction Represents Firm's Third Investment in Plastics Industry
SAN MATEO, Calif., October 2, 2013-- Rowmark LLC ("Rowmark"), a leading manufacturer of highly engineered extruded plastic sheet used for engraving and specialty applications, announced today its partnership with Bertram Capital. Based in Findlay, OH, 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," said 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 recognized global brand of engravable sheet worldwide, which is sold exclusively through an international network of authorized 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," noted 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," said 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."
Founded in 1987 in Findlay, OH, Rowmark manufactures extruded plastic sheet for engraving and specialty applications. Rowmark is the leading supplier of engravable sheet plastic for the signage, engraving and awards markets and offers the two most recognized brands in the industry. Through its Premier Material Concepts ("PMC") division, Rowmark offers an extensive range of extrusion capabilities to produce custom and decorative thermoforming sheets for a diverse set of end markets and applications. For more information, visit www.rowmarkllc.com.
About Bertram Capital
Bertram Capital is a Northern California-based private equity firm focused on investing in middle-market business services, consumer, healthcare, industrial and technology companies. Bertram is currently investing out of its $500 million second fund and typically allocates $25-$100 million to each investment. Since the firm's inception, Bertram has managed in excess of $850 million in committed capital and has completed 11 platform investments and 14 follow-on acquisitions. Visit www.bertramcapital.com for more information.
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