From the Wires
Packaging Concepts & Design and O2 Investment Partners Invest in Packaging Specialists, Inc. Southwest
By: Marketwired .
Jul. 17, 2017 07:30 AM
PHOENIX, AZ--(Marketwired - July 17, 2017) - O2 Investment Partners ("O2") and Packaging Concepts & Design ("PC&D") announced today their investment in Packaging Specialists, Inc. Southwest ("PSI"), partnering with President Patrick Coveney to continue growing the business. Terms of the investment were not disclosed.
Established in 1976, PSI is a leading designer and manufacturer of custom engineered foam and wood protective packaging products to major industrial manufacturers throughout the Southwestern United States. Headquartered in Phoenix, Arizona, PSI provides packaging systems and solutions to customers in the Aerospace, Defense, Electronics, and Semi-Conductor industries, among others.
Joseph Gumbis, CEO of Packaging Concepts & Design commented, "the acquisition of PSI is highly complementary to PC&D's extensive design and engineering capabilities." Noting further, "The combination of PSI and PC&D provides a great opportunity for growth in the Southwestern U.S. market. We look forward to working with Patrick Coveney and the PSI management team to execute on the exciting opportunities that the combination of our two companies brings."
Patrick Coveney, President of Packaging Specialists, Inc. Southwest commented, "PC&D provides a great strategic fit for PSI and we believe our partnership with them will accelerate our growth trajectory. The combined capabilities going forward will bring a lot of extra value to our customers."
Jay Hansen, Managing Partner of O2, added, "PSI is a highly regarded packaging supplier and Patrick Coveney is highly respected within the packaging industry. We are very excited about partnering with the PSI team to enhance our collective design, engineering, and product capabilities to serve the broader geographic and industry end markets of the combined businesses."
About O2 Investment Partners:
About Packaging Specialists, Inc. Southwest:
About Packaging Concepts & Design:
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