CC Industries-owned flexible packaging company, Selig Group, has completed the acquisition of Performance Systematix (PSI).
Founded in 1984, PSI supplies container and packaging venting solutions to industries including food, industrial chemicals and life sciences. The company’s offerings are said to protect container integrity, eliminate waste and reduce shipping costs.
The US firm – which reportedly serves a global customer base from its facility in Grand Rapids, Michigan – will operate as a subsidiary of Selig.
The acquisition of PSI is said to provide Selig with complementary adjacent capabilities that will allow it to expand its offering to its customers.
“PSI’s culture of innovation, service and quality are well aligned with Selig and will enable us to serve customers better as a combined organisation with expanded capabilities and short, highly responsive product development cycles,” said Steve Cassidy, president and CEO of Selig.
Bill Crown, president and CEO of CCI, added: “PSI is an exceptional company with a long history of growth, and has built its success on solving customers’ problems, a core value that Selig shares.
“We look forward to supporting both Selig and PSI’s continued growth globally and further expanding the combined company’s capabilities and solutions.”
The financial terms of the transaction have not been disclosed.
© FoodBev Media Ltd 2020
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