February 5, 2018 – Earth City, MO – Springboro, OH – The ownership group of General Credit Forms, Inc., one of the largest domestic manufacturers and distributors of point-of-sale supply products, has acquired Paper Systems Incorporated (PSI), a Springboro, OH, based company that specializes in the design and manufacture of paper rolls for point-of-sale and ATM systems. PSI joins the McCormick Family of Businesses which includes printing and distribution companies General Credit Forms, Inc. (GCF) and Golden Business Forms, Inc (GBF); hardware manufacturer and service provider South Seas Data, LLC (SSD); label manufacturer Advanced Labeling Systems, LLC (ALS) and wholesaler McCormick Paper Company, Inc (MPC).
The ownership group purchased the assets of PSI and will continue to operate the company as PSI. The McCormick Family of Businesses are involved with manufacturing, warehousing and distributing products and services for the point-of-sale, financial services, retail and money transfer industries. 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. PSI currently develops and manufactures custom-printed and blank point-of-sale and ATM roll products and offers various other products including point-of-sale ribbons, toners and inkjet cartridges. PSI serves a range of markets including Banking/Financial, Gaming, Healthcare, Retail, Hospitality, Transportation, Grocery and Dining.
Bryan Eovaldi, President for all of the affiliated companies stated, “The acquisition of PSI provides additional scale to our existing point-of-sale roll product offerings into the collective affiliated companies’ portfolio of products and services. It will further the companies’ strategic position to remain a dominant provider of products and services for an ever-growing customer base. We are excited that PSI is now a part of our family of companies.”
Larry Curk, CEO of PSI said, “We are excited about this strategic alliance with the McCormick Family of Businesses. They have the technology and resources to strategically extend our point-of-sale and ATM roll products to an even larger market place. We feel strongly that our alliance will serve to strengthen PSI both operationally and organizationally in an increasingly competitive market. Through the utilization of existing group synergies combined with those of the affiliated companies, we aim to diversify our product offering to significantly grow our existing customer base and expand our distribution channels.” To ensure an effective transition, Mr. Curk will continue to strategically guide the PSI management team and will report to Bryan Eovaldi, PSI’s new President.
Collective products offered by the companies include custom-printed and blank point-of-sale roll products; printed forms and sales receipts; proprietary POS hardware; thermal transfer and direct thermal printers; traditional POS terminal equipment; depot and repair services on proprietary and traditional POS equipment; POS ribbons; labels and decals; security products, checks and general business forms; call center services; web hosting; warehousing and distribution services; and a variety of other items used in the banking, gaming, ATM, money transfer, retail, petroleum/c-store and bankcard industries.