[SHENZHEN, CHINA 11 February 2011] PCH International, a global supply chain solutions company, has gained two new private equity shareholders - Triangle Peak Partners, a Californian private equity firm which focuses on technology and energy, and Cross Creek Capital, a Salt Lake City-based investment firm who are a private equity affiliate of Wasatch Advisors Inc.
Together with existing investors Lightspeed Venture Partners, Focus Ventures and Norwest Venture Partners, PCH has secured a total US$26 million in the latest round of venture capital funding. This is in addition to the US$21 million secured from the latter three investors in 2008.
CEO Liam Casey said "We are excited about the potential growth of the company and it is clear from this new round of funding that our investors are very confident. The capital will be used to fund the future growth and expansion plans of the company, with increased focus on the domestic China market." PCH reported revenues of US$152.6 million in 2009, and 2010 revenues exceeded US$400 million. The company will announce its 2010 earnings later this year.
PCH International creates, develops and delivers the world's best technology products for the world's best brands, focusing on the accessories market for eReaders, smartphones and tablets. With more than 1,000 employees spanning four continents, we offer a unique understanding of China, end-to-end integrated supply chain solutions, world-class design and transparent partnerships. Since 1996, we have used our entrepreneurial vision and innovation to disrupt traditional supply chain models.