Springboro paper company has new owner

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Springboro paper company has new owner

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Paper Systems Inc. in Springboro has been sold.

A Springboro manufacturer of retail and ATM paper rolls has a new owner.

General Credit Forms, Inc. bought Paper Systems Inc. recently. Terms of the sale were not disclosed.

The buying company describes itself as “one of the largest domestic manufacturers and distributors of point-of-sale supply products.”

Paper Systems Inc. (or PSI), based at 185 S. Pioneer Blvd., focuses on the design and manufacture of paper rolls for point-of-sale and ATM systems.

PSI joins a company that includes printing and distribution companies General Credit Forms, Inc. and Golden Business Forms, Inc.; hardware manufacturer and service provider South Seas Data, LLC; label manufacturer Advanced Labeling Systems, LLC and wholesaler McCormick Paper Company, Inc.

The ownership group purchased the assets of PSI and will continue to operate the company as PSI, the acquiring company said in a release.

“The companies collectively service an impressive list of Fortune 500 customers and see clearly that the addition of PSI to the current stable of affiliate companies will enhance the breadth and quality of services provided to their customers,” General Credit Forms said in its release.

PSI develops and makes custom-printed and blank point-of-sale and ATM roll products and offers other products, including point-of-sale ribbons, toners and inkjet cartridges.

PSI serves markets like banking, gaming, health care, retail, grocery, dining and other areas.

“We are excited about this strategic alliance with the McCormick family of businesses,” Larry Curk, chief executive of PSI, said in the release. “They have the technology and resources to strategically extend our point-of-sale and ATM roll products to an even larger market place.”

A message seeking comment was left for Curk.

Dayton’s Corporate Development Associates, Inc. advised PSI on the sale of the business.

James Hollander, Corporate Development Associates’ managing director, said the acquisition “will produce many benefits for both organizations allowing them to continue to flourish in the market place.”

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