PE Deals

Blackford Capital buys industrial automation firm PACIV

MFS Capital Advisors served as financial advisor to PACIV while Grant Thornton served as the financial and tax advisor to Blackford.

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  • Associated Bank and HCAP Partners provided debt financing for the deal
  • Blackford acquires lower middle-market companies, with a focus on the manufacturing, industrial and distribution industries
  • PACIV was founded in 1997

Blackford Capital has acquired San Juan, Puerto Rico-based PACIV, a provider of industrial automation solutions. No financial terms were disclosed.

“We’re thrilled to be working with Rick, Mácar and the rest of the PACIV team to launch this new platform in the fast-growing manufacturing automation sector,” said Martin Stein, founder and managing director of Blackford Capital in a statement. “With the rising demand for industrial automation expertise across a variety of industries, we believe PACIV will provide a solid foundation for our new industrial automation platform, and that we will have many opportunities to expand within biotechnology, pharmaceutical, medical device, and other industries demanding process automation services.”

MFS Capital Advisors served as financial advisor and Adsuar Muñiz Goyco Seda & Pérez-Ochoa, P.S.C. served as legal advisor to PACIV. Varnum LLP served as legal advisor and Grant Thornton served as the financial and tax advisor to Blackford. Associated Bank and HCAP Partners provided debt financing, and Rush Street Capital provided financing advisory services in support of the transaction.

Founded in 2010, Blackford Capital is 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.

PACIV was founded in 1997.