Our First Solomons Fund Acquisition Makes Its First Acquisition

Graphic Label, Inc. Acquires Portland-Based Pacific Code and Label

Marks Another Successful Transition for OneAccord's Capital Advisory Services Team


 

PCL Logo

Two years ago this month, Solomons Fund launched with the acquisition of Graphic Label Inc. Last week, our capital advisory services team announced that GLI had completed its own acquisition: Portland-based Pacific Code and Label.

“PCL was such a good fit for GLI to acquire, because we want to maintain our core business in the fruit and vegetable markets, however we want to grow into other areas as well,” said Brian Koenig, GLI president.For 23 years, PCL has distributed labels, printers, ink and other items for labeling, primarily to the Northwest’s packaging industry. GLI provides similar services to fruit and produce growers/packers in the greater Pacific Northwest and California. 

Koenig explained PCL has a number of customers in the horticulture space, which compliments GLI’s core market. The acquisition has enabled his team to bring on new printer and hardware vendors and offer full color inkjets to customers who want to print on demand. 

With its reach into markets beyond the agriculture space, PCL opens the doors to solid growth opportunities as well. GLI will now have offices in Yakima, Wenatchee, Kirkland and Portland, as well as new partners and vendors.

PCL was founded in 1995 by George Doorly, who went on to manage and operate every aspect of the business for 23 years. He is technically retiring from PCL, but not completely. He will continue in construction and contracting for the remainder of his career, staying on with GLI through a 90-day transition period then moving into an independent contractor role in which he will consult on specialty products he has sourced for customers.

“George has trained our technical team on his line of hardware and we will continue to work with him as long as possible,” said Koenig. “He’s a great guy, knows the Northwest well and will be a continued supporter of GLI’s growth.”

To ensure a smooth transition, GLI put together a special team to work with George’s customers and make sure their orders were filled and nobody experienced a stock out. 

“We love meeting new partners and we pride ourselves on service,” said Koenig. “It gives us satisfaction knowing our customers appreciate our hard work and dedication to providing them with products and exceptional follow up. I’m incredibly excited about growing the company across the whole Northwest.”

About OneAccord

OneAccord has been helping owners grow long-term value in their businesses since 2005. In 2016, it added two major divisions. The capital advisory services team serves as a trusted advisor to provide clients with sell-side M&A representation and expert advice on preparing for a business transition, sale or recapitalization event. Solomons Fund is an investment fund founded with the purpose of acquiring companies with an EBITDA of $1 million to $2.5 million. GLI was Solomons Fund’s first acquisition.

OneAccord’s leadership and investors are successful entrepreneurs and veteran corporate executives who bring more than a century of operational experience and an aligned set of values that center on stewardship and long-term vision. OneAccord takes a values-based approach to growing, selling and acquiring businesses by preserving legacy, caring for employees and communities, and providing long-term capital to fund business transition and growth. For more information, visit OneAccord.co. 

 

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Published: 08/28/2018

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