Rowmark LLC, the portfolio company belonging to Connecticut-based private equity firm Clearview Capital, will acquire Southtech Plastics, the North Carolina-based company. Specifics of the transaction were not immediately publicized. Southtech will be integrated into Rowmark under the division Southtech Decorative Laminations.
Clearview Capital’s Portfolio Company Rowmark Acquires Southtech Plastics
Sixth add-on acquisition for Rowmark; Clearview’s fifth acquisition of 2011
August 11, 2011 — Rowmark, LLC, a portfolio company of Clearview Capital Fund II, LP of
Old Greenwich, CT, has acquired the assets of Southtech Plastics, Inc. effective at the close of
business on June 30, 2011. The transaction is the sixth add-on acquisition Rowmark has
completed since Clearview’s initial investment in Rowmark, and is the fifth acquisition
completed by Clearview Capital during 2011.
Southtech Plastics, Inc., based in New Bern, NC, specializes in the production of extruded sheet
and decorative laminates. Duane Jebbett, CEO of Rowmark, said “Southtech has built a strong
brand over the years by penetrating niche markets for extruded and laminated products. We
believe Southtech’s products and personnel will be a terrific addition to our flagship engraving
product lines as well as our rapidly growing PMC custom extruded sheet division.”
Bill Cohn of Southtech will become the Vice president and General Manager of a new division
called “Southtech Decorative Laminations” which will be merged with Rowmark’s Color Path
Technologies division. Southtech’s operations will be consolidated into Rowmark’s Trenton,
NC manufacturing facility.
“Since our initial investment in Rowmark, the company has grown rapidly, organically and via
acquisition, to more than double its size before the onset of the financial crisis”, said James G.
Andersen, co-Managing Partner of Clearview Capital. “The prospects for continued growth are
excellent and we remain on the hunt for additional accretive acquisitions.”
Since the end of December Clearview has also established two new platforms that are actively
seeking to grow by acquisition. The Results Companies is a leading Business Process
Outsourcing (“BPO”) company, providing customized inbound and outbound customer support
services to Fortune 500 clients from facilities in the U.S., the Philippines and Mexico. Pyramid
Healthcare, Inc. is a provider of drug/alcohol and mental health treatment for adults and
Clearview is also aggressively pursuing new platforms as it continues to deploy capital from
Clearview Capital Fund II, LP.
Clearview’s other holdings include All Tech Inspection/IESCO, a provider of mechanical
integrity inspection and non-destructive testing services for the refinery, petrochemical and
power industries; EN Engineering, a provider of engineering and design services to liquid and
gas pipeline operators; Air Cooled Exchangers, LLC, a manufacturer of air cooled heat
exchangers; Senior Care Centers of America, the country’s second largest operator of adult day
care centers; Hillsdale Furniture, a designer and importer of wood and metal furniture; and a
minority interest in CPG International, the leading extruder of thick gauge polyolefin and PVC
sheet, including AZEK® brand trim boards and decking products.
Clearview Capital, LLC is a private investment firm specializing in the acquisition and recapitalization of North
American companies with operating profits of $4-20 million. The firm’s principals have a long and successful track
record of completing transactions and of working collaboratively with management to create and realize value.
Clearview has in excess of $250 million under management and is currently making investments through its
committed fund, Clearview Capital Fund II, LP.