Portsmouth, R.I.-based Ocean State Innovations, a Brand & Oppenheimer (B&O) company,
has acquired ColorWorks, an Elizabethton, Tenn.-based commission textile dyer and finisher. Ocean State will contribute the capability to source a wider range of textiles as well as technical knowledge, both of which will help better serve the needs of ColorWorks’ customers.
“We look forward to continuing our commitment to the ongoing operations at ColorWorks and the future innovation that the commission dyeing and finishing segment adds
to Ocean State,” said Edward Ricci, Ocean State Innovations CEO.
Praesidian Capital, an investor in both first lien debt and equity in B&O/Ocean State, is supportive of Ocean State’s continued strategic growth.
“We are very pleased with Ocean State’s growth trajectory and with management’s continued commitment to innovation, customer service, and high-quality textile products,” said Jason Drattell, the founding partner of Praesidian. “We anticipate continued growth and success as management executes on their strategic vision.”
January/February 2020
