Processing and packaging company ProMach closes on investment agreement
Global processing and packaging machinery company ProMach has closed an agreement in which funds managed by BDT Capital Partners acquired a significant stake in the Kentucky-headquartered organization.
BDT Capital Partners entered into the agreement alongside Leonard Green & Partners, which will invest new capital into ProMach, according to a news release.
Financial terms of the agreement were not disclosed. ProMach’s management team and employees will continue operating from facilities across the globe, according to the release.
BDT Capital Partners is an affiliate of BDT & MSD Partners, a merchant bank serving business owners and strategic, long-term investors.
“We are very fortunate to now be working with two outstanding partners in LGP and BDTCP that understand and support what we’ve built over the last 25 years,” Mark Anderson, ProMach president and CEO, said in the release. “It’s a tremendous next step in ProMach’s development, as both organizations have a great reputation for aligning with management teams and investing in their future. Our shared vision for bringing value to our customers and providing a great place for our people to work is the most exciting aspect of this deal.”
ProMach’s portfolio includes 46 processing and packaging solutions product brands serving manufacturers of all sizes in various industries including food and beverage processing. Founded in 1998, the company serves production line areas including filling, primary packaging, secondary packaging, labeling and coding, pharma and systems integration.
“ProMach and its portfolio of product brands have a significant footprint in the industry and an excellent reputation for manufacturing innovative products and solutions to meet customers’ evolving needs,” Byron Trott, BDT & MSD Partners chair and co-CEO, said. “We believe the company is poised for significant long-term success and we look forward to working closely with ProMach’s strong leadership team.”
Added Chris McCollum, LGP partner: “We’ve had a special partnership with ProMach over the last five years, and the organization and team have proven to be truly remarkable. We feel as strongly about ProMach today as we did when our business relationship began, and we look forward to partnering with BDTCP to accelerate and build on ProMach’s success as a trusted solutions provider to diverse consumer and industrial goods companies around the world.”
Additionally, ProMach promoted Jason Angel to global vice president of sales and business development of its Tray Packaging brand. Angel most recently served as vice president of sales and service at Ossid, another ProMach brand.
Angel has held several service, sales, marketing and director roles since joining the ProMach family of brands in 1993.
