TROY – Packaging Concepts + Design announced that O2 Investment Partners, a private equity firm in Bloomfield Hills, along with PC&D?s management team have acquired the business. Terms of the deal were not disclosed.
Midwest Mezzanine provided subordinated financing and equity and Comerica Bank provided senior financing. Packaging Concepts + Design designs and delivers highly engineered packaging solutions for global Tier 1 automotive suppliers and OEMs. The deal marks O2?s fourth transaction in sixth months.
?We wanted to find a partner that shared our strategic vision for our business and O2 was that partner,? said Richard Kaspers, President & CEO of PC&D. ?We now have the resources to take advantage of the significant growth we see in our existing markets as well as capture market share in other niche segments that we do not currently serve.?
Founded in 1914, Packaging Concepts + Design also serves the consumer, retail and food/beverage markets. The company is the supplier of choice for the automotive industry?s most complex packaging requirements including design, engineering, sourcing, integrated packaging, program management, assembly and logistics.
?We are excited about our investment in PC&D and we?re looking forward to partnering with management to achieve our collective vision for the business,? said Jay Hansen, Managing Partner of O2 Investment Partners. ?Dick Kaspers and his team have done a great job positioning the business for the upcoming growth and with our resources and expertise in growing businesses, we?re very excited about the future.?
