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BDT Capital Companions will purchase a big place, alongside Leonard Inexperienced & Companions, in processing and packaging options supplier
ProMach, a worldwide chief in processing and packaging equipment options, as we speak introduced that funds managed by BDT Capital Companions, LLC (“BDTCP”) have entered right into a definitive settlement to amass a big stake in ProMach alongside Leonard Inexperienced & Companions, L.P. (“LGP”), the prevailing majority proprietor. BDTCP is an affiliate of BDT & MSD Companions, a service provider financial institution constructed to serve the distinct wants of enterprise house owners and strategic, long-term traders. As a part of the settlement, LGP will make investments new capital into the corporate. Monetary phrases weren’t disclosed.
Based in 1998, ProMach’s portfolio consists of 46 best-in-class processing and packaging options product manufacturers serving producers of all sizes, geographies, and industries. ProMach’s product manufacturers manufacture, distribute, combine, and help options throughout the whole manufacturing line in distinct areas together with processing, filling, main packaging, secondary packaging, labeling and coding, pharma, and methods integration.
“We’re extraordinarily enthusiastic as we enter our subsequent section of development with two distinctive companions in LGP and BDT Capital Companions that share our widespread imaginative and prescient,” mentioned Mark Anderson, President and CEO of ProMach. “ProMach has grown tremendously as a result of laborious work and creativity of our those who ship revolutionary options to our prospects on daily basis throughout many various segments of the patron merchandise market. Our excellent administration crew appreciates the sturdy present partnership with LGP and appears ahead to working with each them and the crew at BDT Capital Companions as we proceed our give attention to development and worth creation for our prospects throughout the globe.”
“Personally, I am so pleased with all our workers and the laborious work and energy they carry on daily basis to strengthen ProMach’s fame as a trusted companion to our prospects,” added Mr. Anderson. “We would not be the place we’re with out their great expertise and power, and we’re very lucky to have nice groups in any respect our product manufacturers which might be obsessed with our merchandise, our prospects, and collaborating with different ProMach product manufacturers to ship efficiency every time.”
“Beneath Mark Anderson’s expert management over the previous 17 years, ProMach has established an distinctive monitor report of efficiency and solidified its place as a frontrunner within the U.S. processing and packaging equipment market,” mentioned Byron Trott, Chairman & Co-CEO, BDT & MSD Companions. “We imagine ProMach is effectively positioned to capitalize on secular trade tailwinds, together with the transition to sustainable packaging and the accelerating adoption of automation applied sciences, and we look ahead to supporting the corporate’s continued enlargement and success.”
“We lengthen our honest gratitude to the whole ProMach crew for his or her excellent work in constructing a world-class group,” mentioned Jon Sokoloff, Managing Associate of LGP. Chris McCollum, Associate of LGP, added “We look ahead to partnering with BDTCP within the subsequent stage of ProMach’s development and success. Since we partnered with the ProMach crew over 5 years in the past, the corporate has been a constant sturdy performer and has delivered distinctive development and worth to all stakeholders with its confirmed enterprise course of. We’re excited concerning the many development alternatives that lie forward and look ahead to persevering with our help of the corporate.”
The transaction is predicted to shut within the second half of 2023 and is topic to customary regulatory approvals. Goldman Sachs & Co. LLC served as lead monetary advisor to ProMach. Morgan Stanley & Co. LLC additionally offered monetary recommendation to the corporate. Latham & Watkins LLP and Thompson Hine LLP acted as authorized advisors to ProMach.
About ProMach
ProMach is a household of best-in-class processing and packaging answer manufacturers serving producers of all sizes and geographies within the meals, beverage, pharmaceutical, private care, and family and industrial items industries. ProMach manufacturers function throughout the whole manufacturing line spectrum: processing, filling, bottling and capping, ornamental labeling, flexibles and trays, pharma, dealing with and sterilizing, labeling and coding, and robotics and finish of line. ProMach additionally gives methods and integration together with turnkey options, design/construct, engineering providers, and productiveness software program to optimize processing and packaging line design and ship most uptime.
ProMach designs, manufactures, integrates, and helps probably the most refined and superior processing and packaging options within the world market. Its numerous buyer base, from Fortune 500 firms to smaller, privately held companies worldwide, is determined by dependable, versatile, technologically superior tools and built-in options. ProMach is headquartered close to Cincinnati, Ohio, with manufacturing amenities and places of work all through North America, Europe, South America, and Asia. For extra details about ProMach, go to http://www.ProMachBuilt.com.
About BDT Capital Companions
BDT Capital Companions gives family- and founder-led companies with long-term, differentiated capital by means of its funding funds. It’s an affiliate of BDT & MSD Companions, a service provider financial institution with an advisory and funding platform constructed to serve the distinct wants of enterprise house owners and strategic, long-term traders. Since 2010, BDT & MSD Companions’ affiliated funds have deployed greater than $50 billion throughout their funding methods. For extra info, go to http://www.bdtmsd.com.
About LGP
LGP is a number one personal fairness funding agency based in 1989 and based mostly in Los Angeles with $70 billion of belongings underneath administration. The agency companions with skilled administration groups and infrequently with founders to spend money on market-leading firms. Since inception, LGP has invested in over 120 firms within the type of conventional buyouts, going-private transactions, recapitalizations, development fairness, and selective public fairness and debt positions. The agency primarily focuses on firms offering providers, together with client, healthcare, and enterprise providers, in addition to retail, distribution and industrials. For extra info, please go to http://www.leonardgreen.com.
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