Global flexible packaging company Selig has purchased Performance Systematix (PSI), marking the completion of its third acquisition.
PSI supplies container and packaging venting solutions, which protect container integrity, eliminate waste and reduce shipping costs. It caters to its customers from its facility in Grand Rapids, Michigan, US.
The acquisition is in line with Selig’s strategy to increase growth and expand its business model through complementary solutions. Selig is a subsidiary of privately held holding company CC Industries (CCI).
CCI president and chief executive officer 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.”
Following the acquisition, PSI will function as a subsidiary of Selig, but it will continue to operate from its Grand Rapids facility.
Financial details of the transaction have not been disclosed.
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 solution offering for customers globally.
“We will continue to focus on the innovative, high-quality products and the exemplary service our customers rely upon.”
Selig supplies technically differentiated closure lining solutions to various markets, including food, beverage, pharmaceutical, healthcare, personal care and more.