Innoplast Holdings Names Andrew Newsome as Vice President of Operations
February 3, 2023
We are pleased to announce Andrew Newsome has been named Vice President of Operations at Innoplast Holdings (collectively, Innoplast, American Sign Products, and Thermoprene), a ScaleCo Fund IV Portfolio company (acquired in 2021).
Innoplast (“Innoplast” or “the company”), was founded in 2006 as an affiliate of Thermoprene. Thermoprene was founded in 1997 as a supplier of custom plastic, rubber, and aluminum extrusions. In August 2021, Innoplast Holdings acquired American Sign Products (“ASP”), and its associated brand, American Reflective Products, a value-added converter and distributor of specialty vinyl’s, adhesives, and reflective tapes used by signage, vehicle, and safety manufacturers. In late 2021, the three companies consolidated locations into a single headquarters in Garfield Heights, OH. With over 35 employees, the company continues to offer value-added distribution excellence to their customers and vendors.
Andrew Newsome has joined Innoplast Holdings as Vice President of Operations, leading facility, process, and product management for the company. Prior to joining Innoplast Holdings, Mr. Newsome was Vice President at ScaleCo, leading the pipeline of ScaleCo Operating Partners, identifying search fund investors, middle market PE firms, and independent sponsors to support the ScaleCo thesis. Mr. Newsome actively oversaw developments in the Scale Community. While at ScaleCo, he furthered a professional relationship with Innoplast’s CEO, Gary Bowling, and immediately became emersed in the organization’s growth plans. “I am incredibly excited to join the Innoplast team. Gary and the leadership team have done a tremendous job growing the business, and I am excited to help continue the momentum”. Mr. Newsome is an experienced management and distribution professional with a demonstrated history in growing and scaling businesses.
Gary Bowling, ScaleCo’s Operating Partner, joined Innoplast as President upon acquisition in 2021. In 2020, Mr. Bowling joined ScaleCo as an Operating Partner where he was responsible for business development surrounding ScaleCo’s investment thesis of value-added distribution. Gary Bowling brings vast experience to his role as CEO, ranging from business development, SaaS, and consulting. Mr. Bowling is a United States Army veteran and received a BS in Political Science from the University of Cincinnati and an MBA from the University of Akron. Mr. Bowling met Mr. Newsome in 2021. Together they have strategized further opportunities for Innoplast Holdings. In the fall of November 2022, Mr. Newsome decided to join the organization full-time. “With his distribution experience and focus on processes, Andrew has instantly complemented our executive team and strategy”, says Gary Bowling, CEO of Innoplast. “We are very excited to welcome Andrew to our team”.
Innoplast Holdings aligns well with ScaleCo’s strategy of investing in profitable, scalable value-added distribution companies with its committed capital fund. ScaleCo and Innoplast Holdings have continued to work together over the past few years to transform the organization, and emerge as a leader in the traffic, safety, and conspicuity industries. ScaleCo’s investment strategy focuses on transforming small, plateaued, profitable businesses into sustainable growth companies by engaging ambitious — and often, first-time — entrepreneurs who have been trained to run companies with an outward, growth mindset. ScaleCo looks forward to seeing Mr. Newsome and Mr. Bowling’s leadership and operational excellence accelerate the organization’s growth over the coming years.
The announcement of Mr. Newsome’s new role comes as ScaleCo continues to invest out of its fourth committed capital fund, consisting of three portfolio companies: PSP Metrics (Pittsburgh, PA), Innoplast (Garfield Heights, OH), and TPI Efficiency (Cleveland, OH).
ScaleCo’s committed capital fund acquires controlling interest in transformable private companies within driving distance of Cleveland, Ohio. ScaleCo uses a scalable search model; a blended model that combines traditional Private Equity deal sourcing with elements of a Search Fund. We pride ourselves on backing driven individuals, (ScaleCo’s “Operating Partners”) who find and operate companies to transform and scale.
Over 25+ years, we have matched our partner companies with an experienced Operating Partner who works closely with management to develop a shared vision and growth plan. ScaleCo always takes an active approach in the implementation of EOS and the TAC Method™ to scale our investment platforms into transformed companies. ScaleCo invests out of its committed capital fund (ScaleCo Fund IV). For additional information, please visit www.scaleco.com
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