ProMach announces new ownership by Leonard Green & Partners
ProMach has announced 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,” said Mark Anderson, president and CEO of ProMach. “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.”
“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,” added Mr. Anderson.
Leonard Green & Partners, based in Los Angeles, is a leading private equity investment firm with more than $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,” said Chris McCollum, partner at Leonard Green & Partners. “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.”