Center Rock Exits Leading Provider of Composite Matting Products

CHICAGO, IL and BLOOMFIELD HILLS, MI — February 12th, 2024 — Center Rock Capital Partners, L.P. (“Center Rock”) is pleased to announce that it has sold Signature Systems (“Signature” or the “Company”) to Myers Industries, Inc. (“Myers”, NYSE: MYE) for $350 million, subject to certain customary adjustments.

Headquartered in Flower Mound, TX, Signature is a leader in the design, engineering, and manufacturing of composite matting products. Signature has established itself as a premier provider of ground protection solutions for customers around the world, serving the industrial, infrastructure, construction, oil and gas, government, and stadium events end-markets.

Following Center Rock’s acquisition of Signature in 2019, Center Rock worked alongside management to drive operational improvements, invest in product development and new production equipment, and added key executive talent, among other initiatives to further position the business for growth.

Arun Laxmanan, Partner at Center Rock, stated, “We are thrilled to have had the opportunity to invest in Signature Systems and to work alongside the Signature team for the past several years. We are proud of the accomplishments Signature has made under the leadership of Jeff Condino and believe the Company will continue to benefit from increasing infrastructure spending and the conversion to recyclable composite materials from legacy alternatives.”

“Center Rock has been a great partner over the past few years as we’ve worked to expand capacity and throughput to meet increasing customer demand,” said Jeff Condino, CEO of Signature Systems. “They have provided support to help fine tune and execute on our strategy as well as resources to help drive operational improvements. We are excited to be joining with Myers and continue to provide our customers with best-in-class solutions for their most complex projects,” added Mr. Condino.

Honigman LLP provided legal counsel to Signature and Center Rock and William Blair served as financial advisor in connection with the transaction. Moelis & Company LLC served as financial advisor to Myers, while Vorys, Sater, Seymour and Pease LLP and Davis Polk & Wardwell LLP provided legal counsel.​

About Signature Systems

Signature Systems manufactures and distributes composite matting ground protection for industrial applications, stadium turf protection and temporary event flooring. Its leading global brands include MegaDeck® HD+, SignaRoad®, DuraDeck®, OmniDeck®, DiamondTrack™, Matrax®, and EventDeck® Ultra.

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