PACIV staff at a team building event.
A proudly Latino firm. Photo: @PACIVGroup.

Blackford Capital acquires Puerto Rican systems integrator company

The company is one of the leading full-service providers of industrial process automation in the Midwest.



November 6th, 2023

AL DÍA Medía Hon. Parker

November 6th, 2023

Strengthening Latino Market

September 14th, 2023

Latino Board Experience

September 5th, 2023

Talented Latinos in Tech

August 31st, 2023

Growing the Biz in Latam

August 29th, 2023

A new CEO at Kraft Heinz

August 18th, 2023

Latina at the helm of NPR

August 18th, 2023


With the goal of establishing a new platform in the expanding industrial automation industry in North America and Europe, Blackford Capital, a leading lower-middle market private equity firm, recently announced the acquisition of PACIV in the midst of a transaction whose terms were not disclosed.

Martin Stein, founder and managing director of Blackford Capital, said in a press release:

We’re thrilled to be working with Rick, Mácar and the rest of the PACIV team to launch this new platform in the fast-growing manufacturing automation sector.

Celebrated Transaction

PACIV, founded in 1997 and with offices in San Juan, Puerto Rico, Indianapolis, Indiana, and Cork, Ireland, is a leading full-service provider of industrial process automation and systems integration primarily to manufacturers in the pharmaceutical and science industries.

PACIV's management team, led by Chairman Rick Straw and Chief Financial Officer Mácar Garrote, will remain with the company following the acquisition. Likewise, its founder and majority owner, Jorge Rodríguez, will remain a shareholder and will serve as a member of the board of directors.

We are very proud of what we have built over our 25 years of operations, including a history of stable growth within our high-value end markets,” noted Straw.

Associated Bank and HCAP Partners provided debt financing, and Rush Street Capital provided financial advisory services in support of the transaction.

I am confident our partnership with Blackford Capital will give us the opportunity to bring in additional operational talent, enhance our client experience, expand our services, provide new and exciting opportunities for our existing associates, and ultimately further accelerate our growth,” added Straw. 

About Blackford Capital

Founded in 2010 in Grand Rapids, Michigan, Blackford Capital is a private equity investment firm that acquires, manages and builds family-owned and founder-owned lower-middle-market companies.

The firm focuses on the manufacturing, industrial and distribution industries, and offers a disciplined and relentless approach to value creation through operational excellence and a compelling culture.

PACIV is well-positioned for strategic add-on acquisitions, targeted geographic expansion, and continued organic growth. We believe PACIV is at an exciting inflection point in the company’s growth and is poised for new opportunities in the automation of the pharmaceutical, biotechnology, and medical products industries,” pointed out Jeff Johnson, Blackford Capital managing director and PACIV chairman.

For his part, Stein added:With the rising demand for industrial automation expertise across a variety of industries, we believe PACIV will provide a solid foundation for our new Industrial Automation platform, and that we will have many opportunities to expand within biotechnology, pharmaceutical, medical device, and other industries demanding process automation services.” 


  • Join the discussion! Leave a comment.

  • or
  • to comment.

  • Join the discussion! Leave a comment.

  • or
  • to comment.
00:00 / 00:00
Ads destiny link