Rutland Plastics is a provider of screen printing inks for the apparel industry and plastisol compounds used in coating, molding, and other applications for automotive and industrial customers. The company’s customers and end-users range from apparel makers and large ink distributors to local print shops. Rutland was founded in 1962 and is based in Pineville, NC. In addition to its headquarters, Rutland has three other locations in North America, and international locations in the UK, Peru and India (www.rutlandinc.com).
“Rutland’s deeply loyal customers are a testament to the company’s premium products and strong technical support and customer service,” said Riverside Partner Tim Gosline. “The company serves dynamic and diverse customers, constantly innovating to create superior products and meet increasingly demanding requirements.”
Riverside intends to grow Rutland and drive market share gains by capitalizing on the company’s product offering and product development and technical service capabilities, which will become more important as the screen-printing industry transitions towards newer, more environmentally friendly products. According to Riverside, Rutland has many opportunities for international growth, both organically and through add-on acquisitions.
Working with Mr. Gosline on the transaction for Riverside were Vice President Ryan Richards; Vice President Martha Sciaraffo; Senior Associate Justina Wang; Associate Conner Harris; and Operating Partner David Gold. Origination Principal Scott Gilbertson sourced the opportunity and Partner Anne Hayes worked on financing the transaction for the Riverside.
BMO Harris Bank and GE Antares Capital provided senior financing and PNC Erieview Capital provided mezzanine financing for the transaction.
The Riverside Company is a private equity firm focused on the smaller end of the middle market (“SEMM”). Riverside specializes in investing in SEMM companies (those valued up to $250 million) and partners with management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in more than 310 transactions with a total enterprise value of more than $6 billion. The firm’s current portfolio includes more than 70 companies. The Riverside Company is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 9-3-13