Stout Advises on Sale of PSI to Selig Group

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Jan 07, 2021, 11:28 ET

CHICAGO, Jan. 7, 2021 /PRNewswire/ -- Stout announced today that its client, Performance Systematix Inc. (PSI), has been acquired by Selig Group ("Selig") a portfolio company of CC Industries (CCI), a Chicago-based family office. Stout served as exclusive financial advisor to PSI in connection with this transaction.

Founded in 1984 and headquartered in Grand Rapids, MI, PSI is the leading supplier of container and packaging venting solutions worldwide, which protect container integrity, eliminate waste, and reduce shipping costs. The company specializes in a highly technical, automated integration of complex microporous membrane and other materials into plastic components and housings. PSI serves large, global, and growing markets, including: household cleaners and disinfectants; industrial cleaners and chemicals; consumer packaged goods; life sciences and laboratory; medical; agricultural chemicals and fertilizers; food and beverage; and petrochemicals.

"We are very pleased with the outcome of this transaction and the insight and guidance provided by Stout," said Karlis Vizulis, Founder and CEO of PSI.

"The PSI team and I are excited to partner with both Selig and CCI. We believe that the partnership with Selig is extremely compelling, and that CCI's extensive experience and resources will further position PSI to capitalize on significant opportunities ahead," added Glenn Dunn, President of PSI, who will continue to lead PSI as a new division of Selig.

Selig 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."

"In addition to the strong chemistry between PSI and Selig, the acquisition is an exceptional strategic fit and creates significant opportunities for additional value creation," said Nick Jachim, Managing Director and Head of Investment Banking at Stout. "Stout has maintained a long-standing relationship with PSI and its shareholders. We're very proud of this successful outcome for our client."

Stout's Michael Brocious, Tyler Skarstein, and Louis-Philippe De Courcy assisted in executing the deal.

Huck Bouma, PC served as legal counsel to Performance Systematix Inc. Gould & Ratner LLP served as legal counsel to Selig and CCI.

About Stout
Stout is a global advisory firm specializing in: Investment Banking; Transaction Advisory; Valuation Advisory; Disputes, Compliance, & Investigations; and Management Consulting. We serve a range of clients, from public corporations to privately held companies in numerous industries. Our clients and their advisors rely on our premier expertise, deep industry knowledge, and unparalleled responsiveness on complex matters. Learn about our Relentless Excellence®️ at stout.com.

Stout is a trade name for Stout Risius Ross, LLC, Stout Advisors SA, Stout Bluepeak Asia Ltd., Stout GmbH, MB e Associati S.r.l., Stout Park Ltd, and Stout Capital, LLC, a FINRA-registered broker-dealer and SIPC member firm. The terms "Stout" or the "firm" refer to one or more of these legally separate and independent advisory practices. Please see www.stout.com/about to learn more.

SOURCE Stout