California private equity firm HCAP Partners has made an unspecified investment in PACIV, an Indianapolis-based portfolio company of Blackford Capital in Grand Rapids.
PACIV is a full-service provider of industrial automation systems, including 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 improve its service offerings.
“PACIV is pleased to have HCAP Partners and Blackford Capital as our strategic partners,” says Rick Straw, president of 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.”
Blackford Capital, a private equity investment that acquires, manages, and builds founder and family-owned, lower middle-market manufacturing, industrial, and distribution companies, acquired PACIV in early July.
“We are thrilled to partner with Blackford Capital, a firm known for its successful investment track record in the lower middle market,” says Frank Mora, a 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.”
