PHILADELPHIA, March 5, 2014 – Graham Partners, a private investment firm focused on investing in businesses with advanced manufacturing technologies, innovative product development capabilities, and strong growth potential, is pleased to announce the acquisition of Precision Medical Inc. (“PMI”), a leading manufacturer of custom and stock bottles and containers serving the food and household chemical markets. PMI joins Graham Partners’ previous acquisitions, Scandia Plastics (September 2012) and Paradigm Packaging (December 2013), under Graham Partners’ newly formed Convergence Packaging (“Convergence”) platform. Graham Partners’ strategic vision is to build a mid-sized blow-molded packaging platform through the acquisition of niche-oriented, specialty blow-molders.
Adam Piatkowski, Managing Principal at Graham Partners, states, “We will continue to aggressively pursue our growth strategy for the Convergence platform by tapping into our deep industry network, utilizing our operational expertise, and identifying and acquiring additional strategic blow-molders.”
Ross Bushnell, President and CEO of Convergence Packaging, adds, “PMI’s strategic location in the Southeast, growing food packaging platform, and custom packaging solutions will provide scale and diversity to the Convergence platform. With its expanded footprint and a dedication to quality and service, Convergence is well positioned to meet the growing needs of its customers.”
About Convergence Packaging (www.convergencepackaging.com): Scandia Plastics, Paradigm Packaging, and Precision Medical Inc. join together as the initial members of Graham Partners’ newly formed blow-molded packaging platform, Convergence Packaging. With over 100 years of combined service, Scandia, Paradigm, and PMI have expertise across a range of technical platforms and reach a variety of end markets including medical diagnostics, healthcare, food and beverage, and household and industrial chemicals. With high-quality engineering and technical capabilities, the platform serves as a complete resource for custom design and production from prototype to finished product.
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