Rowmark, a maker of laminated and co-extruded plastic sheet products for engraving applications, has acquired 100% ownership of Tromark SAS, an Ouzoir, France-based marketing joint venture between Rowmark and Trodat GmbH (Austria). No financial terms were disclosed. Rowmark is a portfolio company of Clearview Capital.
Rowmark, LLC, a portfolio company of Clearview Capital, LLC of Old Greenwich, CT, has acquired 100% ownership of the joint venture Tromark, S.A.S., of Ouzoir, France. The transaction closed on October 2, 2008.
Tromark was established in 2003 as a joint venture between Rowmark, based in Findlay, OH, and Trodat GmbH of Wels, Austria, to market Rowmark’s plastic engraving sheet line throughout Europe, the Middle East and Africa.
Rowmark is the dominant manufacturer worldwide of laminated and co-extruded plastic sheet products for engraving applications. The company has long exported its products from its home in Findlay, OH and with this acquisition has consolidated its rapidly growing European business.
“This is an important strategic change that will permit Rowmark to grow its business model and brand throughout Europe, the Middle East and Africa even faster than before,” said Duane Jebbett, Rowmark’s CEO. “Rowmark Europe now represents nearly one-third of our revenue and we believe will be a significant engine of growth in the years to come.”
“Europe represents huge growth potential for Rowmark, as demonstrated by the success Tromark has enjoyed over the past five years,” said James G. Andersen, Managing Partner of Clearview Capital. “This acquisition will allow the company to diversify its business and it represents a major step in the execution of our organic and acquisition growth strategy.”
Clearview’s holdings include Air Cooled Exchangers, a leading manufacturer of air-cooled heat exchangers; Hettinger Welding, a leading provider of pipeline and facilities construction and maintenance services for customers building natural gas infrastructure; Rowmark, a manufacturer and marketer of specialty plastic sheet and related products for the awards/recognition, engraving and signage markets; 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.