ProMach announces new ownership by Leonard Green & Partners
ProMach plans continued focus on maximizing customer value with global growth and support.
CINCINNATI, Ohio—ProMach, Inc., a leader in packaging machinery solutions, announced today the completion of its acquisition by affiliates of Leonard Green & Partners from affiliates of AEA Investors. Financial terms were not disclosed. ProMach’s management team and employees will continue to operate from their facilities across the globe.
Founded in 1998, ProMach is a family of best-in-class packaging solution product brands serving manufacturers of all sizes, geographies, and industries. ProMach product brands operate across the entire packaging spectrum providing solutions for nearly every application, including integration and engineering services for complete turnkey packaging lines.
“We are very excited to be working with Leonard Green,” says ProMach president and chief executive officer Mark Anderson. “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.”
He adds, “Our entire management team and employees look forward to working with Leonard Green to continue growing and developing our remarkable organization and continue bringing the best overall customer experience to the packaging industry. ”
Leonard Green & Partners, based in Los Angeles, is a leading private equity investment firm with more than US$25 billion of assets currently under management. Since its founding in 1989, the firm has invested in over 90 companies primarily in the consumer services, business services, healthcare services, and retail sectors.
“We feel ProMach is well positioned for long-term success,” says Leonard Green & Partners partner Chris McCollum. “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.”
Pro Mach is a family of best-in-class packaging solution brands serving manufacturers of all sizes and geographies in the food, beverage, pharmaceutical, personal care, and household and industrial goods industries. ProMach brands operate across the entire packaging spectrum: filling and capping, flexibles, pharma, product handling, labeling and coding, and end of line. ProMach also provides performance services, including integrated solutions, design/build, engineering services, and productivity software to optimize packaging line design and deliver maximum uptime. ProMach designs, manufactures, integrates, and supports the most sophisticated and advanced packaging solutions in the global marketplace. Its diverse customer base, from Fortune 500 companies to smaller, privately-held businesses worldwide, depends on reliable, flexible, technologically advanced equipment and integrated solutions. ProMach is headquartered near Cincinnati, Ohio, with manufacturing facilities and offices throughout North America, Europe, South America, and Asia. For more information about ProMach, visit www.ProMachBuilt.com.
About Leonard Green & Partners
Leonard Green & Partners, L.P. is a leading private equity investment firm founded in 1989 and based in Los Angeles, California. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 90 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, business, and healthcare services, as well as retail. For more information, visit www.LeonardGreen.com.
About AEA Investors
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon, and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA’s active individual investors include an extraordinary network of more than 75 highly successful business executives, industrial families, and former government leaders. Today, AEA’s approximately 70 investment professionals operate globally with offices in New York, Connecticut, London, Munich, and Shanghai. The firm manages funds that have approximately US$10 billion of invested and committed capital, including the leveraged buyouts of middle market companies and small businesses and mezzanine and senior debt investing. AEA Private Equity invests across four sectors: value added industrial products, specialty chemicals, consumer products / retail and services. For further information about AEA, visit www.AEAInvestors.com.
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