Praesidian Capital Successfully Exits Equity Investment Textile Solutions Provider Ocean State Innovations

OKLAHOMA CITY — January 3, 2023 — Praesidian Capital, a private equity firm with offices in Oklahoma City, New York and London, announced today that it has fully realized its equity investment in Ocean State Innovations. Based in Portsmouth, R.I., Ocean State is a textile converter in the United States.

“In 2015 we partnered with Ed Ricci, Ben Galpen and Bryan Boulis, all industry experts with over 100 years of combined experience in the quality textile industry. Over the years they have significantly expanded the business via organic growth and acquisitions, and expertly lead the Company through the Covid 19 pandemic. The company is well capitalized and positioned for continued growth.” said Jason Drattell, the founding partner of Praesidian.

“Praesidian has been a flexible and committed partner and we appreciate all their support throughout the years” said Edward Ricci, CEO of Ocean State.

Posted: January 3, 2023

Source: Praesidian Capital