Rohrer Corp. : Setting a Blistering PaceFebruary 2011 By Erik Cagle
There has always been a bit of a sibling rivalry syndrome when it comes to commercial printing and package printing. The former eyes the latter with jealous envy, as a possible ancillary target in order to scare up growth possibilities. The package printing people scoff in response, frustrated and feeling a bit disrespected at how lightly the manufacturing aspect of their trade is regarded.
The world of package printing, much like its commercial counterpart, is largely fragmented. Consolidation is a fact of life for both genres, and each has its cluster of roll-up kingpins that have enjoyed varying degrees of success. Newcomers to the M&A arena, however, are difficult to find on either side of the printing aisle.
For a company that's phonetically pronounced "roar," the good folks at Wadsworth, OH-based Rohrer Corp. have spent much of their 38-year existence excelling, yet purposely not making a whole lot of noise in the process.
That is all about to change.
The kings of thermoform plastic and face-seal/heat-seal blister cards have thrown their hats into the M&A ring with great zest. Even after 38 consecutive years without suffering a year-over-year sales loss, Rohrer Corp. is seeking growth through acquisition, not just of the organic variety. Following the switch of majority ownership from John and David Rohrer to a private equity group in late 2009, the company began to embark on negotiations with various package printing companies.
No Sinking Ships Wanted
However, don't misunderstand the intentions of Rohrer Corp. According to Scot Adkins, company president and CEO, the optimal candidates need to bring strength to the table.
"We're currently involved in conversations with a couple of companies," he reveals. "We're looking for viable acquisition opportunities, not turnaround-type businesses that are failing. The best candidates are well-run companies with products and customers that either complement what we do or that can add to—from a process standpoint—a type of packaging/end market in which we aren't currently involved. We're sort of in mid-process of looking for companies that are interested in becoming a part of Rohrer."
What Rohrer has been able to accomplish leads one to believe that its plans for future growth—Adkins would love to see sales reach $150 million within the next five years—are in earnest. The 2010 campaign was extremely successful for blister packaging, and the success played a large role in helping Rohrer attain $73 million in sales.