Pro Mach, Inc., announced today that affiliates of AEA Investors LP (“AEA”) are acquiring the packaging machinery leader from The Jordan Company. The transaction is expected to be completed in the fourth quarter of 2014, and is subject to customary closing conditions. Financial terms were not disclosed.
Pro Mach is a leading manufacturer of integrated packaging and processing equipment solutions, and provider of training, installation, parts, and service for customers worldwide. Through more than 25 brands in Bottling & Capping, Primary Packaging, Flexible Packaging, Material Handling, Identification & Tracking, and End of Line Packaging, Pro Mach provides automated solutions that drive efficiency and increase packaging line performance for diverse food, beverage, pharmaceutical, consumer goods, and industrial goods companies.
“We are proud to announce our new ownership under AEA,” said Mark Anderson, Pro Mach President and CEO. “AEA understands our business, shares our vision, and will provide significant support for Pro Mach and its management team as we continue to grow our company and fulfill our highest priority – serving our customers. Our outstanding management team will remain intact and continue to lead our growth and execute our strategy. With AEA’s support, we look forward to continuing our expansion in world markets and building on our position as the premier provider of integrated packaging, material handling, and processing solutions in North America and beyond.”
“Personally I’m very proud of all our employees and the hard work they put in every day to strengthen Pro Mach’s reputation as a leading integrated solutions provider and make us a success,” added Mr. Anderson. “We couldn’t do what we do without them and we are very fortunate to have such great teams at all our brands.”
Pro Mach’s brands include Allpax, Axon, Benchmark Automation, Brenton, Currie by Brenton, Dekka, Edson, Federal, Fowler, ID Technology, IPak, KLEENLine, Matrix, Orion, Ossid, Pace Packaging, Rennco, Roberts PolyPro, Shuttleworth, Tekkra, Wexxar/BEL, and Zalkin. Pro Mach’s Flexible Packaging Group also sells, integrates and supports Toyo Jidoki, Inever, and FLtècnics brand equipment.
“By providing a single source for integrated solutions and a wide range of stand-alone products, Pro Mach strategically solves important packaging, processing, and material handling challenges for a diverse range of customers worldwide,” said Tom Pryma, Partner, AEA. “Pro Mach and its brands have an excellent reputation for manufacturing exceptional products and delivering exemplary customer service. We look forward to working with the management team to expand Pro Mach’s capabilities and grow the company.”
Brian Higgins, Partner at The Jordan Company, said, "We are proud of what Pro Mach has accomplished in the marketplace and the success of our partnership. Their excellent management team has consistently grown the business, expanded their capabilities, and delivered superior products and services to its customers. We wish the Pro Mach team continued success under AEA’s ownership."
Barclays Capital is acting as financial advisor to Pro Mach and The Jordan Company.