OIA Global has acquired the materials sourcing division of Portland, Ore.-based PACCESS.
Details of the transaction were not released.
However, OIA Chief Executive Officer Charlie Hornecker said recent acuqisitions, including the purchase of PACCESS’ division, have helped OIA nearly double the size of its sourcing business. He expects an employee ramp up of 10 percent in the next 30 days to properly staff the company’s new holding.
"We will continue to look for these types of organic growth opportunities in the future," Hornecker said in a statement, "provided they are strategic to our business and drive significant value to our customers."
The transaction allows OIA to rapidly expand its sourcing division, but it also benefits PACCESS, said company CEO John Davidson.
"The transfer of the materials sourcing component of our business to OIA Global will provide the additional quality resources and network necessary to build off the strong foundation PACCESS has developed in this business segment over the past 15 years in Portland and Asia. The transfer offers great benefit to our customers and to our former employees, as PACCESS now redirects its focus with our European partner, within our engineered packaging solutions affiliate," Davidson said in a statement. - Jon Ross