The acquisition forms part of Selig Group’s strategy to augment growth and expand its business model
PSI will operate as a subsidiary of Selig. (Credit: Adam Radosavljevic from Pixabay)
Selig Group, a flexible packaging company owned by CC Industries (CCI), has closed the acquisition of Performance Systematix (PSI), a container and packaging venting solutions supplier.
Established in 1984, PSI is engaged in providing container and packaging venting solutions for applications where packaged products experience off-gassing, pressure changes, temperature changes, or handling variability.
Financial terms of the deal were undisclosed.
CCI president and CEO Bill Crown said: “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 deal represents Selig’s third acquisition
The latest transaction represents Selig’s third acquisition and forms part of the company’s strategy to expand its business model through complementary solutions while augmenting growth.
Selig president and CEO Steve Cassidy said: “PSI’s culture of innovation, service and quality are well-aligned with Selig and will enable us to serve customers better as a combined organization with expanded capabilities and short, highly responsive product development cycles.”
Selig expects the combination to provide it with highly complementary adjacent capabilities to serve customers.
PSI president Glenn Dunn said: “Selig is an ideal partner to support PSI’s team in its next phase of growth. This is a highly strategic combination which expands both companies’ product lines, enabling us to provide a more comprehensive solutions offering for customers globally.
“We will continue to focus on the innovative, high-quality products and the exemplary service our customers rely upon.”
PSI will now operate as a subsidiary of Selig. It will serve its customers from its Grand Rapids facility in Michigan, US.
Selig Group supplies technically-differentiated closure lining solutions for food, beverage, pharmaceutical, healthcare, personal care, and industrial applications.
The firm also manufactures a range of technical and flexible packaging products for the pouch and other applications in Europe.