PERFORMANCE, PACKAGED

ProMach to be Acquired by Affiliates of AEA Investors LP from The Jordan Company

Sep 16, 2014
  • Transaction expected to be completed in the fourth quarter of 2014
  • AEA and ProMach eye growth in world markets
  • Management team to remain intact

Cincinnati, OH - ProMach, 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.

ProMach 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, ProMach 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, ProMach President and CEO. “AEA understands our business, shares our vision, and will provide significant support for ProMach 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 ProMach’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.”

ProMach’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. ProMach’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, ProMach strategically solves important packaging, processing, and material handling challenges for a diverse range of customers worldwide,” said Tom Pryma, Partner, AEA. “ProMach 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 ProMach’s capabilities and grow the company.”

Brian Higgins, Partner at The Jordan Company, said, "We are proud of what ProMach 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 ProMach team continued success under AEA’s ownership."

Barclays Capital is acting as financial advisor to ProMach and The Jordan Company.

About AEA Investors LP

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 (the “Participants”) 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 $6 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 please visit www.AEAInvestors.com.

About The Jordan Company

The Jordan Company (www.TheJordanCompany.com), founded in 1982, is a middle-market private equity firm that manages funds with original capital commitments in excess of $8 billion with a 32-year track record of investing in and contributing to the growth of many businesses across a wide range of industries. The senior investment team has been investing together for over 20 years and they are supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, The Jordan Company also has offices in Chicago and Shanghai.

About ProMach

ProMach is a family of best-in-class packaging and processing 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 production line: filling, bottling and capping, decorative labeling, flexibles and trays, pharma, handling and sterilizing, labeling and coding, and robotics and end of line. ProMach also provides systems and integration including turnkey solutions, design/build, engineering services, and productivity software to optimize production line design and deliver maximum uptime.

ProMach designs, manufactures, integrates, and supports the most sophisticated and advanced packaging and processing 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 and for more information on ProMach Careers, visit www.ProMachCareers.com.