Salt Creek Capital has teamed up with Blue & Gray Enterprises to acquire Roman Decorating Products. No financial terms were disclosed. Based in Calumet City, Illinois, Roman Decorating Products is a maker of wallcovering adhesives, primers, removers and sundries.
Salt Creek Capital, in collaboration with Blue & Gray Enterprises, LLC, has purchased Roman Decorating Products, LLC. Roman Decorating Products is the leading manufacturer of wallcovering adhesives, primers, removers and sundries in North America.
Jerry Russo, owner, President & CEO, announced the sale of Roman Decorating Products, LLC to Blue & Gray Enterprises on November 22, stating, “It has been my great pleasure and privilege to lead Roman for over 20 years, building the Roman brands with superior quality and innovation. The time has arrived for me to enjoy new challenges and opportunities. Roman’s executive team is seasoned and well poised to continue Roman’s growth and dedication to superior products and service.”
J. W. Penland, the founding member of Blue & Gray Enterprises, will serve as Roman’s President & CEO. Penland takes the helm at Roman having served as CEO of IOCOM, a software based video conferencing and collaboration provider. Earlier in his career, Penland spent 12 years in progressively more complex roles at Sprint, ultimately as general manager of one of the company’s most profitable units. He is also an executive partner of Salt Creek Capital. Penland obtained his BS in Business Administration from Georgetown University and has an MBA from Harvard Business School.
According to Penland, “Roman is a great company with growth opportunities. I am looking forward to working with the team at Roman to identify new markets and new products, while building on Roman’s history of stellar customer focus.”