Selig Group (“Selig”), owned by CC Industries (“CCI”), announced today that it has completed an acquisition of Performance Systematix (“PSI”). Founded in 1984, PSI is the leading supplier of container and packaging venting solutions worldwide, which protect container integrity, eliminate waste, and reduce shipping costs. The combination provides Selig with highly complementary adjacent capabilities to serve its customers more broadly on a global basis. This transaction is Selig’s third acquisition and reflects its strategy to augment growth and expand its business model via complementary solutions. “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,” said Bill Crown, President and Chief Executive Officer of CCI. “We look forward to supporting both Selig and PSI’s continued growth globally and further expanding the combined company’s capabilities and solutions.”
Steve Cassidy, President and Chief Executive Officer of Selig added, “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.” Glenn Dunn, PSI’s President stated, “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 operate as a subsidiary of Selig and continue serving its customers from its Grand Rapids, Michigan, USA facility.
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