Wadsworth, OH — ShoreView Industries ("ShoreView"), in partnership with management, has completed the sale of Rohrer Corporation ("Rohrer" or the "Company") to Wellspring Capital Management LLC ("Wellspring"). The terms of the transaction were not disclosed.
Headquartered in Wadsworth, Ohio, Rohrer is a manufacturer of high-visibility paperboard and thermoformed plastic consumer packaging including graphically intensive blister, skin, folding carton, high volume board packaging, and clamshell packaging. Rohrer's partners enjoy industry-leading speed, quality, and value as well as beautiful design and inventive solutions through its custom packaging programs.
ShoreView acquired Rohrer in December 2009 in partnership with the founding Rohrer family to consolidate the fragmented high-visibility packaging sector. During its ownership, the Company completed four add-on acquisitions, made significant investments in production equipment and hired new senior leadership under a planned transition of family executives from day-to-day management to board roles. Since 2009, company revenues have grown from $67 million to over $200 million.
With the closing of this transaction, Rohrer's senior management team, led by CEO Steve Wirrig, will continue to lead the business. "Rohrer has found an excellent fit with Wellspring," said Mr. Wirrig. "We believe Wellspring shares our vision of delivering innovative consumer packaging solutions. This partnership supports the continued growth of our business so we can provide industry-leading packaging solutions for our customers."
Managing Director Mike Del Pero, of B. Riley's Specialty Industrials Group added, "We are thrilled to have worked with ShoreView on this transaction and congratulate them on a successful outcome. This represents a high-profile deal in the packaging space as well as another important closed transaction for [B. Riley's] growing private equity advisory practice."
B. Riley co-advised Rohrer and ShoreView along with Harris Williams.
About Rohrer Corporation
Rohrer's packaging solutions help build brands and bottom lines across a range of industries and end markets, including hardware, office supplies, batteries, consumer electronics, automotive aftermarket, consumer products, and personal care. The Company was founded in 1973 and is headquartered near Akron in Wadsworth, Ohio and has seven additional manufacturing facilities in Georgia, Arizona, Illinois (three), and Mexico (two). For additional information, please visit rohrer.com.
B. Riley Securities is a leading investment bank that provides a full suite of investment banking, corporate finance, advisory, research, and sales and trading services. Investment banking services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring, and recapitalization. The firm is nationally recognized and highly ranked for its proprietary small-cap equity research. B. Riley Securities is a wholly owned subsidiary of B. Riley Financial. For more information, visit brileysecurities.com.
For more information, please contact Michael Del Pero, Managing Director, at 310-995-1831, or Clay Bryan, Senior Managing Director and leader of B. Riley's Financial Sponsors Group, at 310-795-1844.