HCAP Partners Invests in PACIV
Funding to Fuel PACIV’s Expansion of Industrial Process Automation Services
SAN DIEGO, CA (July 5, 2023) – a California-based private equity firm and nationally recognized impact investor, is pleased to announce its recent investment in PACIV, a leading full-service provider of industrial automation solutions. The transaction is part of a co-investment with Blackford Capital, who announced their acquisition of PACIV earlier this month. Terms of the investment were not disclosed.
PACIV has established itself as a trusted partner in the process automation landscape as a one-source solution provider of instrumentation, control systems, and regulatory compliance services to manufacturers in the biotechnology, pharmaceutical, medical device, and related industries. The capital infusion will support PACIV's expansion plans, enabling the company to accelerate its growth and enhance its service offerings.
"We are thrilled to partner with Blackford Capital, a firm known for its successful investment track record in lower middle market," said Frank Mora, Partner at HCAP Partners. "We are committed to deploying capital in underserved markets that have the potential to generate job growth and economic impact. PACIV's proven capabilities and deep industry knowledge make them an ideal candidate for investment, and we are excited to support their expansion efforts."
"PACIV is pleased to have HCAP Partners and Blackford Capital as our strategic partners," said Rick Straw, President, PACIV. "This investment underscores the confidence in our ability to deliver top-notch automation solutions. With HCAP and Blackford's support, we will strengthen our capabilities, broaden our service portfolio, and better serve our clients."
About HCAP Partners
HCAP Partners is a diversely owned private equity firm specializing in providing mezzanine debt and private equity for underserved, lower-middle market companies throughout California and the Western United States. The firm seeks to invest $3 million to $25 million in established businesses generating between $10 million and $100 million in revenues in the healthcare, software, services, and manufacturing industries. HCAP Partners has invested in over 60 companies since its founding and through ongoing, active engagement with portfolio companies provides value-added resources to help optimize performance and increase enterprise value. The firm has been an ImpactAssets 50 fund since 2014 and, through its Gainful Jobs Approach™, works to facilitate a positive impact on underserved businesses, their employees, and their communities through active portfolio engagement. For more information, please visit http://www.hcap.com/.
About Blackford Capital
Founded in 2010, Blackford Capital is a private equity investment firm headquartered in Grand Rapids, Michigan. Blackford acquires, manages, and builds founder and family-owned, lower middle-market companies, with a focus on the manufacturing, industrial and distribution industries, a disciplined and relentless approach to value creation, and a focus on operational excellence and a compelling culture. Blackford was named the Private Equity Firm of the Year by M&A Advisor in 2022, 2021 and 2018 and recognized as Dealmaker of the Year in 2023 by ACG Detroit. Several of its portfolio companies have been included on the Inc. 5000. For more information, visit blackfordcapital.com.
About PACIV
Founded in 1997 in San Juan, Puerto Rico, PACIV is the largest systems integrator in Puerto Rico and one of the largest in the Midwest, with 120 employees across its three offices. The Company aims to provide unparalleled control systems, instrumentation, and regulatory compliance services to the biotechnology, pharmaceutical, medical device, water / wastewater, food and beverage, energy, and other process industries in a cost-effective manner. For more information, visit paciv.com.
