CHICAGO (August 3, 2023) – Onward Capital, a private equity firm based in Chicago, announced today that it has acquired PFI InStore, headquartered in St. Louis, Missouri (www.pfiinstore.com). Terms of the transaction were not disclosed. PFI InStore provides retail displays ranging from temporary point-of-purchase (“POP”) displays to permanent store fixtures. From concept and design to manufacturing, the Company focuses on supporting CPG brands, national retailers, and creative design agencies by showcasing and promoting products in all areas of the store. PFI serves customers across a variety of end markets, including beverage, security, personal care, convenience, and grocery. The Company has become one of the few providers of displays and fixtures made with nearly all types of materials (wood, wire, plastic, acrylic, and corrugated).
Marcus George, Partner of Onward Capital, said, “PFI InStore has a great reputation for innovation, creativity, manufacturing excellence and customer service.” Laura Lester, Onward Capital Partner, added, “We look forward to working with the management team to pursue both organic and inorganic growth initiatives and build upon the Company’s already impressive record of success.”
John Dolan, President and CEO of PFI InStore, commented, “We are thrilled to be partnering with Onward Capital. Onward Capital will provide us with strategic and financial resources to achieve our shared passion for growth.”
The recapitalization was funded by CIBC Bank and Merit Capital Partners. Ropes & Gray LLP served as legal counsel to Onward Capital and its investor group.
About PFI InStore Since 1956, PFI InStore (www.pfiinstore.com) headquartered in St. Louis, Missouri, has provided retail merchandising display solutions ranging from temporary point-of-sale to permanent store fixtures to the largest global consumer packaged goods brands and retailers. PFI InStore represents a single source opportunity for customers and has become one of the few providers of displays and fixtures made with nearly all types of materials (wood, wire, plastic, acrylic, and corrugated).
About Onward Capital LLC
Onward Capital is a Chicago-based private equity firm focused on investing in and growing lower middle-market industrial businesses. Onward targets manufacturing and value-added distribution companies, typically with revenues between $20 million and $125 million and invests in partnership with family offices, mezzanine funds, equity funds, industry executives and high net worth individuals. Onward’s Partners have completed 18 platform investments and over 40 add-on acquisitions. These investments represent over $600 million of invested capital. For more information on Onward Capital, please visit www.onwardcapllc.com.
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