High Road Sells the Crown Group to PPG
October 9, 2017
High Road Capital Partners has sold its portfolio company, The Crown Group (Crown), to PPG. Transaction terms were not disclosed.
“During High Road’s four‐year ownership of Crown, revenue grew by more than 80 percent and EBITDA more than doubled,” said Bill Connell, High Road partner. “Partnering with an exceptional management team, led by Frank Knoth, we expanded Crown’s products, services and footprint, enabling the company to become increasingly important to their blue‐chip customer base. Crown’s success underscores High Road’s acumen in taking smaller niche companies to the next level.”
“High Road helped us capitalize on the customer outsourcing trend and further integrate into customers’ supply chains. High Road’s partnership enabled Crown to solidify our position as the go‐to provider for high volume, difficult‐to‐coat products, as we extended our coating capabilities and expanded our production,” said Frank Knoth, president and CEO, The Crown Group.
High Road Capital Partners has completed 43 transactions — 17 platform investments, 20 add‐on acquisitions and six exits — since its founding in 2007.