Alert: Packaging World now enhanced for the iPad and iPhone. Watch a quick video preview
 
Download Download this free, 150-page Pharmaceutical Serialization Playbook jam-packed with strategies for success and pitfalls to avoid.  Learn more >>
Article |

Pro Mach to be acquired by The Jordan Company from Odyssey Investment Partners

Pro Mach, Inc. has announced a definitive agreement under which The Resolute Fund II, L.P., an affiliate of The Jordan Company, will acquire the company from Odyssey Investment Partners, LLC. Financial terms of the transaction were not disclosed.
Print Reprint
FILED IN:  Applications  > Healthcare  > Pharmaceutical
     
Pro Mach is the leading provider of packaging machinery solutions and related aftermarket products and services to multinational clients in the food, beverage, household goods and pharmaceutical industries. Pro Mach's leading market position is derived from its broad product offering and ability to develop customized packaging machinery solutions that drive efficiency, accommodate changes to packaging formats and promote customer product innovation.

"We are excited to be partnering with The Jordan Company," said Mark Anderson, Chief Executive Officer of Pro Mach. "The Jordan Company team has an impressive track record, understands our business and shares our vision for the future of the Company. We look forward to working closely with them to pursue our strategic objectives and continue our strong customer focus."

"Pro Mach has a proven track record of solving its customers' complex marketing and operational challenges, and that success is reflected in its stable, global customer base," said Brian Higgins, Principal, The Jordan Company. "The management team has transformed Pro Mach from a portfolio of individual brands to an integrated operating company with a unified market strategy. We look forward to partnering with Mark Anderson and the Pro Mach leadership team to continue building the premium brand in the North American packaging machinery industry."

Craig Staub, a Managing Principal of Odyssey Investment Partners, said, "We are proud of what Pro Mach has accomplished in recent years and the success of our investment. The Company's excellent management team has consistently delivered superior products and services to its customers. We wish the Pro Mach team continued success under The Jordan Company's ownership."

Completion of the transaction, which is expected in July 2011, is subject to customary closing conditions, including repayment of substantially all outstanding Pro Mach debt.

Barclays Capital is arranging debt financing for the transaction and Mayer Brown LLP is acting as legal advisor to The Jordan Company. Barclays Capital is acting as financial advisor to Pro Mach and Latham & Watkins LLP is acting as legal advisor.

Comments(0)

Add new comment

E-BOOK SPECIAL REPORT
42 Best Package Designs
Sign up to receive timely updates from our editors and download this e-book consisting of our editors' picks of most notable package designs. Updated for 2014!
x

Newsletters

Don't miss intelligence crucial to your job and business!
Click on any newsletter to view a sample. Enter your email address below to sign up!
GENERAL INTEREST
PACKAGE DESIGN/DEVELOPMENT
Each newsletter ranges in frequency from once per month to a few times per month at most.