Ocean State Innovations Announces Appointment of Global Sales Manager

PORTSMOUTH, R.I.--(BUSINESS WIRE)--Ocean State Innovations (OSI), a leading textile provider, announced the appointment of Peter Raneri as Global Sales Manager. Mr. Raneri joins OSI with over thirty years of textile experience. Most recently he held the position of VP Sales & Business Development at HLC Industries. In his new role for OSI, Mr. Raneri will handle domestic and global business opportunities in tactical, industrial and specialty market segments. Raneri has a strong partnership with the INVISTA™ CORDURA® team which will be an asset in growing both the OSI and the CORDURA® brands.

“Ocean State Innovations continues to evolve and grow. We made the commitment to textile assets with the purchase of ColorWorks, one of America’s largest dyers and finishers, and the purchase of Cutting Edge TexStyles, a premier bias and straight cutter of textiles. Now we are investing in people. Peter brings a global presence to our sales force, specializing in the CORDURA® brand, but also brings a wealth of knowledge and relationships in the textile industry that will help us grow to the next level,” said Bryan Boulis, President of Ocean State Innovations.

For more information, please visit www.osinnovate.com

About Ocean State Innovations

Founded in 1913 as Brand and Oppenheimer Company, Inc. ("B&O") as a supplier of garment linings, the company celebrates a rich history in the textile industry. In October 2011, Praesidian Capital became an investor. In 2014 Brand & Oppenheimer acquired Performance Textiles, a US textiles supplier. In 2015 B&O entered an equity partnership with 1947 LLC’s management team: Ed Ricci, Ben Galpen, and Bryan Boulis, all industry experts with over one hundred years of combined experience. The 1947 LLC Management team has grown the business through organic sales, strategic partnerships, and acquisitions. In 2017 B&O acquired the assets of Cutting Edge TexStyles, a global supplier of Bindings, Trims and Piece Goods. In 2018 B&O acquired the assets of General Fabrics Inc., a global designer and wholesale distributor of quilting fabrics. In 2019, Brand and Oppenheimer became Ocean State Innovations (“OSI”) to continue the tradition of quality textiles, while focusing on the company’s innovative industry expertise and strong Rhode Island roots. In 2020, OSI acquired the assets of ColorWorks, a premier textile dyer and finisher located in Elizabethton, Tennessee. Ocean State Innovations has distinguished itself as the premier global source for textile products and services and continues as a leader in the textile industry for the U.S. Military. OSI is now bringing that same innovative textile expertise to many commercial market segments such as medical, industrial, automotive, and traditional apparel.

About Praesidian Capital

Praesidian Capital is an innovative private investment firm focused on providing senior and subordinated debt along with growth capital to private lower middle market business in the United States, United Kingdom, German, and selectively in Northern Europe. Praesidian invests in established small and mid-sized companies, often in connection with Management buyouts, recapitalizations, and refinancing. Based in New York with an office in London, Praesidian has nearly $1 billion in original capital commitments in aggregate. For more information, visit www.praesidian.com