PE-backed Royston Group buys PWS assets

Royston Group, a portfolio company of Industrial Opportunity Partners, has acquired the assets of Jacksboro, Tennessee-based ProImage Wholesale Signs, a maker of retail signs.

Royston Group, a portfolio company of Industrial Opportunity Partners, has acquired the assets of Jacksboro, Tennessee-based ProImage Wholesale Signs, a maker of retail signs. No financial terms were disclosed.

PRESS RELEASE

Evanston, Ill., September 8, 2020 – Industrial Opportunity Partners (“IOP”), an operations-focused private equity firm based in Evanston, Ill., today announced that its existing portfolio company Royston Group, has acquired the assets of ProImage Wholesale Signs (“PWS” or the “Company”). The transaction represents Royston Group’s third acquisition in 2020. Terms of the transaction were not disclosed.

PWS is a wholesale manufacturer of retail signage and operates out of an 80,000 square foot facility in Jacksboro, Tenn. The facility will become the East Coast sign manufacturing hub for Royston Group’s Los Angeles-based subsidiary, SignResource, LLC, and will extend its depth and reach as a provider of signage and architectural elements for retailers across the U.S.

The acquisition bolsters Royston Group’s position as an anchor supplier for convenience and grocery retailers, with advanced signage manufacturing facilities on both coasts. The recently updated manufacturing and assembly space is streamlined for production of architectural signage, vacuum formed faces and their cabinets, channel and dimensional letters, fascia and facility towers and more.

“We are excited to expand SignResource’s capacity and footprint to better serve our customers with the addition of this facility,” said Frank Callis, President and CEO of Royston Group. “It is our goal to be the go-to supplier for convenience, grocery, and other retailers, and adding this operation is a direct response to our customers’ needs for better service, lower freight costs and East Coast manufacturing and distribution.”

Jim Todd, IOP Operating Principal and Chairman of Royston Group added, “I am optimistic about the synergies this purchase will bring to the Royston Group, and to our customers. We are eager to combine our strengths across multiple facilities, streamline operations, and better serve customers.”

About ProImage Wholesale Signs
PWS is a North American wholesale signage manufacturer located approximately 30 miles north of Knoxville in Jacksboro, Tenn. The recently expanded and renovated 80,000 sq. ft. facility produces a full product line of custom signs, fascia and architectural elements for retailers throughout the U.S.

About Royston Group
Formed by IOP in 2018 following the acquisitions of Royston LLC and SignResource, LLC, Royston Group designs, manufactures, and installs custom interior and exterior fixtures and signs for convenience stores, fuel stations, grocery stores, mass merchants and various other end markets. Royston Group’s facilities span the country, with headquarters in Jasper, Ga. and manufacturing plants in Jasper, Ga.; Royston, Ga.; Atlanta, Ga.; Bessemer, Ala.; Manitowoc, Wis.; Maywood, Calif.; and Shanghai, China. The company also operates distribution warehouses in Pendergrass, Ga., and Bell Gardens, Calif. Royston Group’s project management and services teams are based in Knoxville, Tenn. and Royston, Ga. For more information on Royston Group, visit its website at www.royston-group.com.

About Industrial Opportunity Partners
IOP, an Evanston, Ill.-based private equity firm with $910 million of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with revenue between $30 million and $450 million. IOP focuses on businesses with strong product, customer, and market positions, and provides management and operational resources to support sales and earnings growth at its businesses. For more information, visit IOP’s website at www.iopfund.com.