ALGER, Mich. -- Automated tarping systems manufacturer Roll-Rite has been acquired by Capital Partners, a private investment firm located in Greenwich, Conn., in conjunction with minority partners Argosy Capital and management.
Capital Partners purchased Roll-Rite from Copeley Capital out of Charlotte, NC. Cleary Gull acted as exclusive financial advisor to Roll-Rite in the transaction. Purchase price was not disclosed.
"This is the classic win-win scenario," said Brad Templeman, CEO of Roll-Rite. "Roll-Rite has enjoyed a very successful growth initiative, even in a lean economy, by developing innovative, market-driven products and through expansion into new domestic as well as international markets. Capital Partners brings to us a proven track record of providing a strong balance sheet to support growth, and assisting companies to get to the next level."
"The addition of Roll-Rite to our portfolio is a very exciting prospect," said Mark D. Allsteadt, managing director of Capital Partners. "We have a strong interest in the manufacturing sector, and look for small to mid-sized innovative companies with unique technologies - companies like Roll-Rite - that also share our key philosophies of lean enterprise and action-based planning disciplines. Capital Partners believes in being patient and disciplined investors who support exceptional management teams as they develop their business. We look forward to working with Roll-Rite as they expand into more new markets and reach out to new customers."
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