Senior Care Centers of America, a Clearview Capital portfolio company, has acquired Wilkes-Barre, Penn.-based Valley Crest Adult Day Care. The transaction closed on January 8, and is the fifth acquisition made by Senior Care since Clearview Capital’s initial investment in 2005.
— Clearview Capital of Old Greenwich, CT today announced that it completed add-on acquisitions for two of its portfolio companies during the month of January.
Clearview has completed twelve transactions since the onset of the financial crisis in September 2008 and intends to maintain an aggressive investing posture as it seeks to invest Clearview Capital Fund II, raised in March, 2008.
Senior Care Centers of America, based in Trevose, PA, acquired Valley Crest Adult Day Care of Wilkes Barre, PA. The transaction closed on January 8. The acquisition is the fifth made by Senior Care since Clearview’s initial investment in 2005.
Senior Care Centers of America is the premier provider of adult day health services in the United States with a total of 21 centers in New Jersey, Pennsylvania, Connecticut and Mississippi. Designed to be a cost effective alternative to home health services, nursing homes and assisted living facilities, Senior Care’s state-of-the-art centers offer a daytime program of nursing care, social services, meals and recreational activities to elderly and disabled adults.
Rowmark, with headquarters in Findlay, OH, acquired Triline Sign Systems of Milan, Italy on January 29. Triline will be incorporated into Rowmark’s burgeoning ClearPath Sign Systems Division which supplies sign systems and components to sign makers around the world. Since Clearview’s acquisition of Rowmark on December 31, 2006, the company has made four add-on acquisitions that have dramatically expanded its geographic reach and worldwide market share.
Rowmark is the dominant manufacturer worldwide of laminated and co-extruded plastic sheet products for engraving applications. The company also produces high quality plastic sheet products for a variety of other applications as well as sign products and decorative laminate films.
“The recent transactions completed by Senior Care and Rowmark will allow them to extend their market leading positions,” said James G. Andersen, Clearview’s co-Managing Partner. “While general economic conditions have not been favorable, the environment for strategic acquisitions which improve our companies’ competitive positions has been outstanding. We intend to continue to deploy our fund to support add-on acquisitions and to establish new platforms.”
Clearview’s holdings also include EN Engineering, which provides engineering and design services to oil and gas pipeline operators; All Tech Inspection, Inc./IESCO, which provides mechanical integrity inspection and non-destructive testing services for the refinery and petrochemical industries; ACE (Air Cooled Exchangers, Inc.), a leading manufacturer of air-cooled heat exchangers; Hettinger Welding, a Rocky Mountain provider of pipeline and facilities construction and maintenance services for customers building natural gas infrastructure; M.H. Zeigler & Sons, the country’s leading manufacturer of refrigerated apple cider; Hillsdale Furniture, a designer and importer of wood and metal furniture; and a minority interest in Compression Polymers Group, the leading extruder of thick gauge polyolefin and PVC sheet, including AZEK® brand trim boards.