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Ocean State Innovations
Ocean State Innovations is a Rhode Island-based single-family office built from a 1947 textile business, led by CEO Ed Ricci.
Ocean State Innovations
Ocean State Innovations is the Leading Textile Solutions Provider. OSI has distinguished itself as the premier global source for textile products and services.
General information
Firm type
Single Family Office
Year founded
2019
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Portsmouth
Corporate office
Portsmouth, RI, United States
Principals
Ed Ricci
Co-Founder of 1947LLC and CEO of Ocean State Innovations
Ben Galpen
Co-Founder of 1947 LLC & Partner at Ocean State Innovations
Bryan Boulis
President of Ocean State Innovations
Mark Hinch
COO Ocean State Innovations
David Mackney
Senior Vice President Ocean State Innovations
Sector focus
Frequently asked questions
Who makes investment decisions at Ocean State Innovations?
CEO Ed Ricci and co-founder Ben Galpen lead the firm's strategic direction. President Bryan Boulis and COO Mark Hinch oversee operations. All four have 25–40 years of textile industry experience.
Is Ocean State Innovations a single family office or a holding company?
OSI functions as both a family office and an operating company. It owns and operates eight textile divisions rather than managing a portfolio of passive investments. The firm does not accept outside capital.
What is the firm's approach to deal sourcing?
OSI grows through organic expansion and acquisitions of textile businesses. Since 2017 it has completed four acquisitions: Cutting Edge TexStyles, General Fabrics, Allied Bias, and ColorWorks. It also forms strategic distribution partnerships.
Which sectors does Ocean State Innovations target?
The firm focuses on textile manufacturing for military, commercial industrial, apparel, medical, and automotive end markets. It holds an exclusive international license for Multicam® brand fabrics and webbing.
Where does the wealth behind Ocean State Innovations originate?
The wealth traces to the family textile business Brand and Oppenheimer, founded in 1947. CEO Ed Ricci is a third-generation textile executive.
Does Ocean State Innovations participate in fund commitments or direct deals?
No. OSI does not commit to external funds or engage in direct private equity or venture deals. All capital is deployed into its owned operating divisions or used for acquisitions in textile manufacturing.
What is the firm's geographic footprint?
OSI is headquartered in Portsmouth, Rhode Island, with a dyeing and finishing facility in Elizabethton, Tennessee. Its supply chain and customer base span North America and international markets through exclusive distribution agreements.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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