Packaging Concepts & Design (PC&D) and O2 Investment Partners (O2) have acquired Packaging Specialists, Southwest (PSI) for an undisclosed sum.
PSI, which was established in 1976, is headquartered in Phoenix, Arizona, US. It designs and manufactures custom engineered foam and wood protective packaging products to major industrial manufacturers across the Southwestern US.
The company, which employs 45 people, offers packaging systems and solutions to customers across aerospace, semi-conductor industries, defense and electronics sectors.
PSI started operations out of a 10,000ft² building in Central Phoenix. The company said customers including IBM, Honeywell, Garrett Industries and Digital Equipment relied on it for new ways to offer cost effective packaging solutions for manufacturers.
In 1986, PSI moved into a 60,000ft² facility in South Phoenix. The facility provided the space for the increased customer base raw materials as well as manufacturing, assembly and finished goods.
In December 2012, the company moved into a larger facility with additional power for manufacturing and more space.
PC&D CEO Joseph Gumbis said: “The acquisition of PSI is highly complementary to PC&D's extensive design and engineering capabilities. The combination of PSI and PC&D provides a great opportunity for growth in the Southwestern U.S. market.”
PSI president Patrick Coveney said: “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.”
PC&D, founded in 1914, designs and delivers engineered packaging solutions for global Tier 1 automotive suppliers and OEMs.
