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Birmingham, Michigan – December 14, 2021 – Angle Advisors is pleased to announce that Specialized Packaging Group (“SPG”), a portfolio company of Altamont Capital Partners (“Altamont”) has acquired Packaging Concepts + Design, LLC (“PC&D”) and Packaging Specialists, Inc. (“PSI”), an O2 Investment Partners, LLC (“O2”) portfolio company. Angle Advisors acted as the exclusive investment banking advisor to O2 in completing this transaction.

The acquisition will enhance SPG’s existing capability set in its Engineered Packaging division, expanding the company’s engineering and design resources and geographic reach while adding approximately 100 employees to its 1,300-person workforce. PC&D and PSI leadership and the companies’ full workforce will continue to operate in their current locations. SPG, one of the largest independent protective packaging manufacturers in North America, is a portfolio company of Altamont Capital Partners.

“The addition of PC&D to our Engineered Packaging division means we will be adding world-class engineering capabilities to an operation that is already an industry leader. PC&D has been the go-to packaging design firm for the automotive industry for over 40 years,” said SPG CEO Bob Lally. “With this announcement, we are excited to strengthen our presence in automotive, especially the growing electric vehicle market, which will allow us to better serve our customers. We are looking forward to bringing the PC&D and PSI teams fully on board and integrating them into a footprint that extends across North America and provides high-quality products to a diverse customer base.”

“Over the last several years, PC&D has grown by focusing on highly engineered solutions geared towards creating efficiencies in our customers’ global supply chains. With SPG, we have found a partner that shares our vision and has the resources to accelerate our growth plans in new and existing markets. The PC&D team is thrilled to join SPG and we look forward to taking our combined business to the next level,” said PC&D CEO Joe Gumbis.

“Our team thoroughly enjoyed working with Angle Advisors and thank them for their hard work to accomplish an excellent outcome. We appreciate their expert understanding of our business, experience working with engineered packaging businesses, deep relationships across the industry, and dedication throughout the process,” added Gumbis.

“PSI is extremely excited about the opportunity to be added to a highly respected protective packaging platform such as SPG. We look forward to growing our product categories, design capabilities and manufacturing resources as we expand our customer base together,” said PSI President Patrick Coveney.

Based in Troy, Michigan, PC&D is a leader in the design and delivery of highly engineered packaging products and solutions. Founded in 1914, PC&D provides expendable and returnable packaging to companies located throughout North America. Its innovative approach to packaging and custom-design solutions creates efficiencies throughout customers’ supply chains. O2 acquired PC&D in July 2014. For more information, visit

Based in Phoenix, Arizona, PSI is Arizona’s largest maker of custom and semi-custom engineered protective packaging. PSI manufactures and designs highly engineered protective packaging using polyurethane, polyethylene, crosslink and EPE foam materials, along with wood, plastic and steel. All of its custom-engineered packs are tested and approved before being deployed to returnable and expendable logistic destinations by customers. PSI services a wide array of industries including aerospace, semi-conductor, electronics, military and defense. O2 and PC&D acquired PSI in 2017. For more information, visit

Specialized Packaging Group, Inc. is a leading, vertically-integrated provider of protective packaging products and one of the largest independent manufacturers of protective packaging in North America. The Company operates under two divisions, IVEX and Engineered Packaging. IVEX manufactures a range of packaging materials at six facilities across the U.S., Canada and Mexico, and Engineered Packaging, which is comprised of Induspac and Estapack, designs and manufactures customized packaging solutions at eight facilities in the U.S. and Mexico. For additional information, please visit and

Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with more than $2.5 billion of assets under management. Altamont is focused on investing in middle market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The firm’s principals have significant experience building business success stories across a range of industries, including consumer, restaurants & multi-unit, financial services, healthcare, industrials, and business services. For additional information, please visit

O2 Investment Partners is a Midwest-based private equity firm that seeks to acquire majority interests in lower middle market B2B services, technology, and niche industrial companies. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value. Additional information is available at

Angle Advisors, with offices in the United States, Germany, and China, specializes in mergers and acquisitions and capital raising. The firm’s professionals have completed 245 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit


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