Center Rock Capital Partners has acquired Signature Systems Group, a manufacturer of composite ground protection products, from Linsalata Capital Partners which acquired the company in March 2013 from Dubin Clark & Company.
Signature Systems manufactures composite matting products that are used for ground protection in industrial applications, for stadium turf protection, and as temporary event flooring. The company’s products are used in a range of domestic and international end markets including oil and gas, power transmission and distribution, construction, special events, stadiums, athletic facilities, convention centers and general commercial.
Company-owned brands include MegaDeck, SignaRoad, DuraDeck, OmniDeck, ArmorDeck and EventDeck. Signature, led by CEO Pradeep Saha, is headquartered near Dallas in Flower Mound, TX with a manufacturing facility in Orlando, FL (www.signaturecorp.com).
“Signature has been at the forefront of the ground protection industry since the company’s inception in 1998. We have worked diligently to build an organization focused on customer needs, manufacturing excellence and product innovation,” said Mr. Saha. “We are excited to partner with Center Rock and leverage their manufacturing expertise, network and resources as we continue to pursue significant growth opportunities.”
The buy of Signature is the fourth platform investment for Center Rock’s first fund which closed in September 2018 with $580 million of limited partner capital commitments.
“Signature’s prominent market position, strong customer base and global presence make for a very compelling investment opportunity. We look forward to working with Pradeep, the leadership team and employees to support future growth,” said Ian Kirson, a partner at Center Rock.
“Pradeep and the Signature team are changing the industry as their innovative composite mats gain wider acceptance among ground protection products. Investing heavily in proprietary designs and patented manufacturing technology, Signature is expected to benefit from strong industry tailwinds,” said Terry Theodore, a partner at Center Rock.
Center Rock makes control and non-control equity investments in North American-based industrial manufacturing, industrial services and industrial distribution companies that have revenues of $25 million to $500 million and EBITDA of up to $50 million (including negative EBITDA). Center Rock was founded in August 2017 and has offices in Chicago, IL and Bloomfield Hills, MI (www.centerrockcp.com).
© 2019 Private Equity Professional | May 8, 2019