Clearview Capital Buys Troy Industries

Clearview Capital has acquired Troy Industries Inc., a Trenton, N.J.-based maker of decorative films used in plastic lamination applications. No financial terms were disclosed.




Clearview Capital, LLC of Old Greenwich, CT has completed the acquisition of Troy Industries, Inc. of Trenton, NC, a manufacturer of decorative films used in plastic lamination applications. The transaction closed on April 13, 2009.


Troy’s products are used in the manufacture of decorative plastics for engraving, signage, window blinds, and a variety of other laminated plastic applications.


“Clearview has had a long standing interest in plastics and has made several prior investments in plastics-related manufacturing,” said James G. Andersen, co-managing partner of Clearview Capital. “Our investment in Troy capitalizes on the wealth of knowledge we have built in this industry. Additionally, as part of the purchase of Troy, Clearview will assume the manufacturing and fulfillment for Innovative Plastics Inc. (IPI). IPI will now be part of the Troy operations under the Clearview umbrella.”


The management teams of both Troy and IPI will remain in place to operate the business for Clearview. With access to additional capital from Clearview Capital Fund II, they will continue to grow the business organically and through acquisition.


“Troy represents Clearview’s sixth acquisition in the past six months,” said Calvin Neider, co-managing partner of Clearview. “We continue to see interesting investment opportunities and intend to maintain an aggressive investment posture as we seek to deploy our fund.”


Clearview’s other holdings include EN Engineering, LLC, a provider of professional engineering and consulting services to the natural gas and liquid petroleum pipeline industries, All Tech Inspection, a provider of inspection and non-destructive testing services to the refining, petrochemical and other industrial process industries, Hettinger Welding, LLC, a leading provider of pipeline and facilities construction and maintenance services for customers building natural gas infrastructure; Rowmark, Inc., a manufacturer and marketer of specialty plastic sheet and related products for the awards/recognition, engraving and signage markets; Air Cooled Exchangers, LLC, a manufacturer of air cooled exchangers used in natural gas compression applications; Twinco Romax, a vertically integrated manufacturer and distributor of automotive fluids sold through retail channels; Senior Care Centers of America, an operator of adult day care centers; 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.