Praesidian Capital Successfully Exits Equity Investment in Leading Textile Solutions Provider


oklahoma city, January 3, 2023 /PRNewswire/ — Praesidian Capital is a leading private equity firm, oklahoma city, New York When Londontoday announced that it has fully realized its equity investment in Ocean State Innovations (“Ocean State” or the “Company”).original Portsmouth, Rhode IslandOcean State, is one of the leading textile converters in the United States.

“In 2015, we partnered with Ed Rich, Ben Galpen When Brian Boulis, professionals in all industries with a total of over 100 years of experience in the high-quality textile industry. Over the years, they have significantly expanded their business through organic growth and acquisitions, successfully leading the company through the Covid 19 pandemic. The company is well capitalized and has the potential for continued growth. ” Jason Drattella founding partner of Praesidian.

“Praesidian has been a flexible and dedicated partner and we appreciate their support over the years.” Edward RichCEO of Ocean State.

About Ocean State Innovations

1947 LLC management has grown the business through organic sales, strategic partnerships and acquisitions. In 2017, B&O acquired the assets of Cutting Edge TexStyles, a global supplier of bindings, trims and piece goods. In 2018, B&O acquired the assets of General Fabrics Inc., a global designer and wholesaler of quilting fabrics. In 2019, Brand and Oppenheimer will become Ocean State Innovations (“OSI”), continuing the tradition of high-quality textiles while focusing on the company’s innovative industry expertise and strong technology. rhode island roots. Also in 2019, OSI purchased the assets of binding product supplier Allied Bias. In 2020, OSI acquired ColorWorks, a leading textile dye and finisher in Elizabethton, Tennessee. OSI looks forward to continued growth and success as management executes its strategic vision.

About Presiden Capital

Praesidian Capital is an innovative private equity firm focused on managing investments in private businesses in the US low-mid market. usa, England, Germanyand selectively nordicFor more information, please visit www.praesidian.com.

To discuss future investment opportunities, please contact:

Jason Drattell,Founder [email protected] (212) 520-2620

Tom DuffyPartner [email protected] (212) 520-2617

Media contact:

Linda Dinelli

212-520-2619

[email protected]

SOURCE President Capital



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