Decorative film company International Graphics Inc. has received a fresh infusion of cash from its private equity owners to improve general working capital.
Pouschine Cook Capital Management LLC and Anchor Capital announced Sept. 17 that they had provided an undisclosed investment in South Plainfield-based IGI and its two companies R Tape Corp. of South Plainfield and Custom Extrusion Technologies of Lakewood, N.J. to help its continuing operations.
The companies have instituted operational improvements but needed additional help because of the unprecedented downturn in the economy and its impact on cash flow, said IGI CEO Bud Philbrook in the release.
Both businesses, which also have European operations in Aalter, Belgium, produce film graphics using PVC, polyethylene, polypropylene and other resins.
New York-based Pouschine Cook led the buyout of IGI from private equity group Kirkwood Capital Partners in 2007.
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