ProMach Announces New Ownership by Affiliates of AEA Investors LPOct 22, 2014
- Leading provider of integrated packaging, processing, and material handling solutions poised to accelerate global growth
- Brands and management team remain intact
Cincinnati, OH - ProMach, Inc. announced today the completion of its acquisition by affiliates of AEA Investors LP (AEA) from The Jordan Company. Financial terms were not disclosed. ProMach’s management team and employees will continue to operate from their facilities in North America and Europe.
ProMach is a leading provider of packaging machinery and integrated systems, with more than 25 equipment brands sold throughout the world. ProMach provides automated solutions that drive efficiency and increase packaging line performance for diverse food, beverage, pharmaceutical, consumer goods, and industrial goods companies. It manufactures and integrates bottling and capping, primary packaging, flexible packaging, material handling, identification and tracking, and end of line packaging solutions.
“Our acquisition by AEA brings a strong partner for our vision to be the world’s premier provider of integrated packaging, material handling, and processing solutions,” said Mark Anderson, ProMach President and CEO. “AEA shares our vision and will provide significant support as we increase our capabilities and create new opportunities to better serve our customers throughout the world, building on the progress we made over the last three years with The Jordan Company.”
“Our management team and employees look forward to working with AEA to build on our success and create greater value for our customers and new investment partners,” added Mr. Anderson.
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.
“ProMach and its brands have an excellent reputation for manufacturing exceptional products and delivering exemplary customer service,” said Tom Pryma, Partner, AEA. “We look forward to working with the management team to accelerate growth and build on their success as a valued partner for diverse consumer and industrial goods companies around the world.”
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 is 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.
Manufacturers of consumer and food service disposables, hardware, consumer goods, medical goods, and industrial laundry services rely on Rennco for high-performance automatic and semi-automatic vertical bagging systems and heat sealing solutions. As part of the ProMach Flexibles business line, Rennco helps our packaging customers protect and grow the reputation and trust of their consumers. ProMach is performance, and the proof is in every package. Learn more about Rennco at www.Rennco.com and more about ProMach at ProMachBuilt.com.
Media ContactJohn Eklund | 1-704-944-5340
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