Quad-C Management said May 17 that it completed its previously announced sale of InterWrap to Owens Corning for $450 million. InterWrap, of Vancouver, British Columbia, makes synthetic roofing underlayment and packaging materials.
May 17, 2016 06:30 AM Eastern Daylight Time
CHARLOTTESVILLE, Va.–(BUSINESS WIRE)–Quad-C Management, a leading middle market private equity firm, today announced that its previously disclosed sale of InterWrap, a leading manufacturer of synthetic roofing underlayment and packaging materials, to Owens Corning for $450 million has been completed. Quad-C made its initial investment in InterWrap in November 2013, partnering with the company’s founders and management team to execute on a strategic vision for growth and operational excellence.
“The entire InterWrap team is very proud of all we accomplished during our multi-year partnership with Quad-C,” said InterWrap CEO, Eduardo Lozano. “Quad-C’s investing experience, industry expertise and support were invaluable in driving the strategic vision for our company and getting us to where we are today.”
Based in Vancouver, British Columbia, InterWrap operates facilities in the United States, Canada, India and China. The company primarily produces synthetic roofing underlayment, including the Titanium® and RhinoRoof® brands, and lumber and metal packaging products, including the Duramet® and WeatherPro® brands.
“Eduardo and his management team have done an exemplary job growing InterWrap while continuing to invest in its products, brands and technology for the future,” said Quad-C Partner Thad Jones. “We are very pleased with all that has been accomplished together over the last several years.”
“InterWrap was a terrific investment for Quad-C,” said Steve Burns, Senior Partner of Quad-C. “We formed a great partnership with the founders of InterWrap, Rob Milne and Dave Shokar, and collaborated with management to execute on a strong collective vision for the business. The employees and management team, our investors and our founder partners reaped the benefits of these efforts.”
Building products is a key area of focus for Quad-C and the InterWrap investment is one of many Quad-C has made in the sector over its more than 25-year history. Other representative investments in the sector include Generation Brands, one of America’s leading lighting companies, and WOLF, the largest distributor of kitchen and bath cabinetry in the U.S. and a leading provider of trim, railing, decking, siding and other building products.
InterWrap is a global leader in the manufacturing and distribution of extrusion coated woven solutions and diverse multilayer laminated reinforced plastic substrates. International manufacturing and distribution facilities located in North America, Europe, India and China, allow InterWrap the competitive advantage to deliver a coated woven solution better and faster anywhere in the world. For more information, please visit www.interwrap.com
Founded in 1989 and headquartered in Charlottesville, Virginia, Quad-C is a middle market private equity firm focused on investing in well-established business services, healthcare, transportation/logistics, consumer, industrial and specialty distribution companies. In its more than 25-year history, Quad-C has invested over $2 billion of equity across more than 50 companies. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value. www.quadcmanagement.com