The interior products and industrial products divisions from RJF International, 700 B.F. Goodrich Drive in Oak Grove, have been acquired by Austin, Texas-based Peak Rock Capital, a private equity firm.
Peak Rock, which invests in companies to promote growth and profit improvement, announced early last week its acquisition of the two divisions in press releases posted on PR Newswire's website, which allows press releases to be uploaded to reach key audiences. The releases were not distributed locally.
Peak Rock would not release any details regarding the acquisition on Wednesday.
AMANDA NICHOLSON The Marietta Times
Two divisions of RJF International, 700 B.F. Goodrich Drive, were bought by Peak Rock, a Texas-based private equity firm. The company announced the acquisition early last week, but press releases were not distributed locally.
Gary Doan, a Muskingum Township trustee, who is retired from RJF, said he recently attended a union contract meeting at the company and employees should have nothing to worry about.
"There was no mention of the individuals who bought the plant or anything other than the jobs are secure and the (union) contract would continue with the new company," Doan said. "Everybody's going to keep their same jobs."
RJF has about 240 employees.
Doan said Muskingum Township trustees hadn't yet been notified of the sale of the assets of the company.
Likewise, Washington County Commissioners and the Southeastern Ohio Port Authority hadn't been notified of the acquisition.
RJF is the former fabricated polymers division of B.F. Goodrich and is a manufacturer of decorative, industrial, interior, transit and office products.
The acquisition of the interior products division occurred on March 17. The interior products make up Koroseal Interior Products, which is headquartered in Fairlawn, a suburb of Akron.
Koroseal is a leading manufacturer and distributor of custom interior products, which includes wall coverings, wall protection systems and dry-erasable wall coverings. The products are sold globally.
The acquisition of the industrial products, ProFusion Industries, 700 B.F. Goodrich Drive, was announced on March 19. It has more than 60 years of experience in transit matting, protective linings and custom specialty film products.
ProFusion uses recycled materials in the manufacturing process and uses processes that produce minimal waste and provide users with safety and durability.