Leonard Green & Partners, a Los Angeles-based private equity investment firm, acquired ProMach, a Cincinnati-based provider of packaging machinery solutions. ProMach's management team and employees will continue to operate from their respective facilities across the globe.
"We are very excited to be working with Leonard Green,” says 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.”
Since its founding in 1989, Leonard Green & Partners 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," says 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."