Ocean State Innovations Announces Appointment of Vice President of Finance

PORTSMOUTH, R.I.–(BUSINESS WIRE)–Ocean State Innovations, a leading textile converter, has announced the appointment of Mary Shalkowski as Vice President of Finance. Shalkowski joins OSI with extensive finance experience gathered from a broad range of responsibilities, most recently at Cranston Printworks. She will be based out of the company’s headquarters in Portsmouth, RI.

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 and StoneCreek Capital, LLC became investors. In 2014 Brand & Oppenheimer acquired Performance Textiles, a US textiles supplier. In 2015 B&O entered into an equity partnership with 1947 LLC’s management team; Ed Ricci, Ben Galpen, and Bryan Boulis, all industry experts with over 100 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. OSI, based in Portsmouth, RI, has distinguished itself as the premier global source for textile products and services. In 2020, OSI acquired the assets of ColorWorks, a premier textile dyer and finisher located in Elizabethton, Tennessee. Ocean State Innovations continues as a leader in the textile industry for the U.S. Military and 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