I look forward to partnering with The Jordan Company to build on our position as one of the largest packaging machinery manufacturers in North America.
- Mark Anderson, Pro Mach President and CEO
Cincinnati, OH (PRWEB) July 06, 2011
Pro Mach, Inc. announced today the completion of its acquisition by The Resolute Fund II, L.P., an affiliate of The Jordan Company, from Odyssey Investment Partners, LLC. Financial terms of the transaction were not disclosed.
Pro Mach is a leading provider of integrated packaging products and solutions for food, beverage, household goods, pharmaceutical, and other consumer and industrial markets. Pro Mach supports a diverse customer base, from Fortune 500 companies to smaller, privately-held businesses worldwide. It is headquartered near Cincinnati, Ohio with manufacturing facilities and offices throughout the United States and Canada.
"We are proud to announce our new ownership under The Jordan Company," said Mark Anderson, Pro Mach President and CEO. "Our management team and I look forward to partnering with them to accelerate our growth strategy and build on our position as one of the largest packaging machinery manufacturers in North America."
"Our outstanding management team, which transformed Pro Mach from a collection of individual brands to a leading integrated solution provider, will remain intact and continue to lead our growth and execute our strategy," added Mr. Anderson."The Jordan Company, with headquarters in New York and offices in Chicago and Shanghai, China, will provide significant support for Pro Mach and its management team to draw upon as we continue to grow our company and fulfill our highest priority - serving our customers. With The Jordan Company's support, we look forward to enhancing ProCustomer, our exemplary customer sales, support and service program that Pro Mach is recognized for in the packaging industry."
Pro Mach's product and solution brands include Allpax, Axon, Brenton, Currie by Brenton, Dekka, Fowler, ID Technology, IPak, LSI, Orion, Ossid, Rennco, Roberts PolyPro, Shuttleworth, Wexxar/Bel, and ProCustomer.
"By providing a single source for integrated solutions and a wide range of standalone products, Pro Mach solves strategically important packaging operations challenges for a diverse range of customers every day," said Brian Higgins, Principal, The Jordan Company. "Pro Mach and its brands have an excellent reputation for consistent delivery of exceptional products and support to its demanding customers, many of whom have been customers for more than 20 years. We look forward to working with the Pro Mach management team to expand Pro Mach's capabilities to provide superior products and services to its customers."
Barclays Capital arranged the debt financing for the transaction. Mayer Brown LLP acted as legal advisor to The Jordan Company. Barclays Capital acted as financial advisor to Pro Mach. Latham & Watkins LLP and Thompson Hine LLP acted as legal advisors.
About Pro Mach
Pro Mach is a leading provider of integrated packaging products and solutions for food, beverage, household goods, pharmaceutical, and other diverse consumer and industrial companies. Through three business units and related divisions, Pro Mach provides equipment, training, installation, and parts in primary packaging, end-of-line packaging, and identification and tracking.
Pro Mach has a diverse customer base, from Fortune 500 companies to smaller, privately-held businesses worldwide, which depend on reliable, flexible, technologically advanced packaging equipment and integrated solution sets. Pro Mach is headquartered near Cincinnati, Ohio with manufacturing facilities and offices throughout the United States and Canada. For more information about Pro Mach visit our website at http://www.ProMachInc.com.
About The Jordan Company
The Jordan Company (http://www.thejordancompany.com), founded in 1982, is a leading middle-market private equity firm with over $5 billion of assets under management and a successful track record of investing in and growing businesses across a wide range of industries. The firm's partners have been investing together for more than two decades, establishing The Jordan Company as one of the most experienced and stable investment teams in private equity. The investment team is supported by the firm's Operations Management Group, which initiates and supports operational improvements in portfolio companies. The firm generates deal flow through a well-developed network of sourcing relationships. Headquartered in New York, The Jordan Company also has offices in Chicago and Shanghai.
About Odyssey Investment Partners
Odyssey Investment Partners, LLC, with offices in New York and Los Angeles, is a leading middle-market private equity firm with more than $2 billion under management. Odyssey Investment Partners, LLC primarily makes control investments typically in established middle-market companies in a variety of industries. For further information about Odyssey Investment Partners, LLC, please visit http://www.odysseyinvestment.com. The firm can be reached in New York at 280 Park Avenue, New York, NY 10017 or (212) 351-7900; and in California at 21650 Oxnard Street, Woodland Hills, CA 91367 or (818) 737-1111.