Wellspring Capital Management Acquires Jen-Coat

Bevis will serve as Chairman and CEO of the new holding company. Bevis has led three successful private-equity backed build-ups, creating significant value through operational improvements, internal growth programs, acquisitions and team building. He most recently served as CEO of Pliant Corporation, a producer of value-added film products, which he led through a complete operational turnaround to a successful sale. Bevis and Wellspring plan to grow the new company through capex investment, internal initiatives and acquisitions in order to better serve its customers.