Private equity investment firm Leonard Green & Partners has signed an agreement to acquire US-based packaging machinery solutions provider ProMach from affiliates of AEA Investors.
ProMach was founded in 1998 and primarily serves manufacturers in the food, beverage, pharmaceutical and personal care industries, as well as the household and industrial goods sectors.
The company’s product brands operate across the entire packaging spectrum, providing solutions such as filling and capping, flexibles, pharma, product handling and labelling, in addition to coding and end of line.
Other services include integration and engineering solutions for complete integrated packaging lines.
ProMach president and CEO Mark Anderson said: “Our entire management team is looking forward to working with Leonard Green as we continue to build on our position as the premier provider of packaging line solutions across the globe.
“The team at Leonard Green has a strong reputation, understands our business, shares our vision, and most importantly shares our passion to fulfil our highest priority, serving our customers.”
ProMach’s portfolio of product brands comprises Allpax, Axon, Benchmark, Brenton, Dekka, Edson, EPI, Federal, Greydon, ID Technology, KLEENLine, Matrix, NJM and Orion.
Other product brands include Ossid, P.E. Labellers, Pace, Pacific, PackLab, Rennco, Roberts PolyPro, Shuttleworth, Texwrap, Wexxar Bel, WLS, Zalkin and ZPI.
Leonard Green & Partners partner Chris McCollum said: “ProMach has built an outstanding business model and has a proven track record of doing exactly what they say they’re going to do, through multiple ownership cycles.”
ProMach also offers performance services such as integrated solutions, design / build, engineering services, as well as a range of productivity software to optimise packaging line design and deliver maximum uptime.
The transaction is subject to customary closing conditions and is scheduled to be completed in the first quarter of this year.