The Riverside Company announced that it had purchased Rutland Plastics. Financial terms about the transaction were not disclosed. The Riverside Company is a private equity company with an international portfolio of 70 companies.
Rutland Plastics, meanwhile, provides customers of the apparel industry with premium screen printing inks. It also manufactures plastisol compounds that are used by the industrial and automotive clients for molding, coating and other applications. Based in North Carolina, Rutland Plastics has over 1,100 active ink customers around the world.
Senior financing for the transaction was provided to Riverside by BMO Harris Bank and GE Antares Capital. Mezzanine financing for the deal was given by PNC Erieview Capital.
Riverside Partner Tim Gosline said the loyalty of Rutland's clients speak for the strength of its products and management team. "The company serves dynamic and diverse customers, constantly innovating to create superior products and meet increasingly demanding requirements," he added.
Riverside said it planned to continue to grow Rutland internationally. Rutland already has operations in the UK, Peru and India.
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