PPI Purchases StampSource
ATHENS, GA — PPI announced today it has signed a memorandum of understanding with StampSource (Taggart Enterprises) to purchase StampSource. StampSource is a metal stamping and fabricating company located in Charlotte, North Carolina.Â
“StampSource’s performance, service levels and values fit well with ‘the PPI Way’; and synergies with other companies within PPI will be a real strength going forward” said Steve Hollis, Chairman of the Board Executive Vice President, Development, PPI.
StampSource will be aligned with Gap Partners under the PPI umbrella to expand their metal stamping and fabrication services.Â
“The combination of StampSource’s and Gap Partners’ capabilities and expertise with Power Partners’ resources and commitment to lean manufacturing will enable StampSource to continue our growth and be a better supplier. StampSource will keep our name and the entire team will stay intact. Thank you for your continued support and business,” said Larry Taggart, President of StampSource.    Â
“StampSource will be a great addition to the PPI family and we are excited about the significant opportunities for continued growth” said Luke Faulstick, President and CEO, PPI.
The agreement is targeted to be completed by September 30, 2013.
About PPI:
PPI is a groundbreaking manufacturing company that provides value to its customers, associates and community and strives to transform the world through innovative manufacturing. PPI’s products are made in America.
The company’s solutions and brands include:
• Power Partners manufactures distribution transformers that efficiently convert distribution voltages to the lower voltages required by commercial and residential consumers.
• ECO-MAX adsorption chillers that utilize waste heat to provide chilled water for air conditioning and process needs.
• Gap Partners precision sheet metal fabrication, machining and mechanical assembly services.
• Change Partners organizational consulting services.
Contacts:
Tom Lopp, VP, Marketing, Power Partners, 706.424.7055
tom.lopp@powerpartners-usa.com
Larry Taggart, President, StampSource, 704.236.2737
ltaggart@stampsource.com
