Graycliff Partners has sold Rutland Plastic Technologies to The Riverside Company. Financial terms weren’t announced Pineville, N.C.-based Rutland designs and makes screen inks for the global textile industry and supplies plastic coatings for commercial and industrial applications.
PRESS RELEASE
NEW YORK–(BUSINESS WIRE)–Graycliff Partners LP (“Graycliff”), a middle market investment firm focused on private equity and mezzanine investments in the United States and Latin America, announced that it has sold its ownership of Rutland Plastic Technologies, Inc. (“Rutland”), a manufacturer of plastisols used in screen printing inks and industrial applications, to The Riverside Company. Financial details of the transaction were not disclosed.
The Pineville, NC-based company is the world’s largest designer and manufacturer of premium screen inks for the global textile industry and a supplier of plastic coatings for commercial and industrial applications, with operations in the United States, the United Kingdom, Peru and India. Founded in 1962, Rutland maintains a leading team of application engineers and technicians with a combined 300 years of experience in developing and producing advanced, high-quality plastisols, including high-performance, eco-friendly PVC-free inks. Rutland continues to be at the forefront of innovation and offers best-in-class service that has proven to be highly valuable to its international customer base.
“We are pleased to have partnered with the management team at Rutland to further expand the company’s product offerings and global footprint. Rutland’s state-of-the-art technologies, strong customer relationships and track record of innovation in plastisol inks have driven the company’s growth,” said Jim Marley, Managing Director, Graycliff Partners.
“Graycliff has been an excellent partner in helping us develop and grow our business,” said Hal Crownover, Chief Executive Officer, Rutland. “Rutland has been a long-respected industry name with a loyal customer base. The support and commitment provided by Graycliff Partners helped us build a more diverse brand portfolio and increase market share. We look forward to continuing to focus on being the highest quality provider of custom inks.”
“Our strategy has been to identify lower middle market companies that have significant potential to grow,” said Duke Punhong, Principal, Graycliff Partners. “Together with the management team, we helped build Rutland through a combination of industry acquisitions and organic growth. We would like to thank Rutland’s management team for being such great partners and for their dedication to excellence.”
About Graycliff Partners LP
Graycliff Partners is an independent investment firm focusing on lower middle market private equity and mezzanine investments in the United States and Latin America. Graycliff Partners LP is an SEC-registered investment advisor under the US Investment Advisors Act of 1940, as amended. Since 1991, the Graycliff Partners team, previously operating as HSBC Capital, has invested over $1 billion and completed over 80 transactions. With offices in New York and São Paulo, Graycliff Partners seeks to partner with companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.
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