Leonard Green & Partners has acquired ProMach, a provider of packaging equipment and systems, from AEA Investors. AEA acquired ProMach from The Jordan Company in 2014 which in turn had acquired the company from Odyssey Investment Partners in 2011.
ProMach designs, manufactures, integrates, and services packaging equipment that is used for bottle-capping, labeling and coding, and product handling in the food, beverage, pharmaceutical, personal care, household goods, and industrial goods industries. The company’s customers range from Fortune 500 companies to smaller, privately held businesses worldwide. ProMach, founded in 1998, is headquartered near Cincinnati in Covington, KY and has manufacturing facilities and offices throughout North America, Europe, South America, and Asia (www.ProMachBuilt.com).
“We are very excited to be working with Leonard Green,” said Mark Anderson, President and CEO of ProMach. “It’s a tremendous next step in ProMach’s development and I am confident they will be an exceptional partner as we enter into our third decade of serving the packaging industry. The ProMach management team is fully committed to continue building our company by expanding our capabilities and services to bring value to our customers and by providing a great place for our people to work. The Leonard Green team shares our vision and has a stellar reputation for partnering with management teams to deliver growth, following up on our successful partnership with AEA which helped us nearly double our business over the last three years.”
Leonard Green invests in middle-market companies in a variety of situations including traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm’s most recent fund, Green Equity Investors VII LP, closed in 2016 with $9.6 billion of committed capital. Leonard Green was founded in 1989 and is headquartered in Los Angeles (www.leonardgreen.com).
“We feel ProMach is well positioned for long-term success,” said Chris McCollum, a Partner at Leonard Green. “They have a superb reputation for innovation and product excellence combined with outstanding customer service, an excellent management team, and a significant footprint in the packaging industry. We look forward to continuing to build on ProMach’s strong foundation as the world’s premier provider of complete packaging line solutions.”
AEA, the seller of ProMach, makes equity and debt investments in middle market companies that operate in the following sectors: retail and consumer products, services, specialty chemicals, and value-added industrial products. The firm manages approximately $10 billion of capital. AEA was founded in 1968 and is headquartered in New York (www.aeainvestors.com).
© 2018 Private Equity Professional | March 8, 2018