"We are excited about the opportunities this acquisition brings to both HGS and PTIS as well as to our customers' growth, success and profitability," said Dan Musachia, president of HGS. "This acquisition enables us to deepen our capabilities in consulting services and deliver value to our customers across the entire global packaging supply chain. PTIS's partners have the proven expertise to address complex problems in the packaging industry and we are proud to have them joining our team."
Founded in 2000 by Michael Richmond, Ph.D., and Brian Wagner, PTIS offers HGS immediate access to new customers and industry segments, as well as additional technology capabilities, increased depth in sales management and consulting services. "The foundation of PTIS is our passion for packaging and helping clients address their challenges and achieve their business goals," Brian Wagner said. "We are excited about extending our reach through this alignment with HGS. Together we can promote the growth and prosperity of packaging through knowledge, insight and opportunity development."
This acquisition further positions HGS as a market leader in the packaging industry and is consistent with its strategy to find new and different ways to deliver value to their clients. PTIS gains access to new resources and support as well as a wider potential client base. PTIS's three partners -- Dr. Michael Richmond, Brian Wagner and Phil McKiernan -- will become leaders of HGS' packaging consulting services. In addition to the three partners, the PTIS Associate and Expert Network will continue to provide value as part of the acquisition. Both companies are privately held and terms of the acquisition will not be disclosed.