Odyssey Investment Partners Acquire Pro Mach, Inc., packaging systems leader, from Frontenac Company
NEW YORK, NY; ATLANTA, GA - Odyssey Investment Partners LLC and Pro Mach, Inc. ("Pro Mach" or the "Company") today announced the closing of their transaction whereby Odyssey will acquire Pro Mach from an investor group led by Frontenac Company LLC. Financial terms of the transaction were not disclosed.
Pro Mach is a leading North American designer, manufacturer and marketer of packaging machinery within the bottling line/liquid packaging, flexible packaging, end-of-line packaging and identification (labeling/marking/coding) segments of the industry. The Company sells into a diverse set of end-markets such as food, beverage and pharmaceutical. In addition to packaging machinery, Pro Mach sells replacement parts and consumables to its customers, as well as services such as training, installation and maintenance. Headquartered in Atlanta, Pro Mach employs approximately 800 people in the United States and Canada. The Company generates annual revenues of more than $150 million.
Brian Kwait, a Managing Principal of Odyssey Investment Partners, said, "We are pleased to have the opportunity to acquire Pro Mach, a company with leading positions in all of its business markets. Pro Mach provides its customers with the highest levels of service, product quality and innovation available, and has earned a strong reputation for excellence. We look forward to working with the management team to build on the Company's fundamental strengths as well as pursue attractive growth opportunities in the future."
"Pro Mach is pleased to join forces with Odyssey Investment Partners, which shares our commitment to become the leading packaging system solutions provider to the North American consumer products industry," said J.P. Richard, founder and Chairman of Pro Mach. "We believe that our existing product platform and strong management team, combined with Odyssey's experience in industrial businesses with significant aftermarket and service components, will allow Pro Mach to successfully expand its leading market position within the industry."
Concurrent with the closing of the transaction, John Paxton joined the Company as Chief Executive Officer. Mr Paxton has over 30 years of management experience as Chairman, President, CEO and other senior positions in the aerospace, automatic identification systems, logistics and industrial sectors. Most recently, Mr. Paxton was President of Zebra Technologies, Inc. where he reversed a negative trend and generated record earnings in 2003. Previously, he was CEO of Telxon Corporation and Monarch Marking Systems.
Pro Mach's products are sold under a variety of brand names, including Axon, Belcor, Brenton, ID Technology, Fowler, Orion, Ossid, Rennco, Roberts PolyPro and Wexxar. The Company's customers include many of North America's "Fortune 500" consumer products companies.
Odyssey Investment Partners LLC, based in New York, is a leading middle-market private equity fund with more than $1.0 billion under management. Odyssey focuses on companies in the industrial, business services and financial services sectors. Odyssey has a long history of investing in industrial manufacturers that also provide related parts, consumables and services, including Monarch Marking Systems, Inc., TransDigm, Inc. and Aviation Technologies, Inc. For more information on Odyssey, please visit www.odysseyinvestment.com.
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 brands, 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 www.ProMachInc.com.
Media Contact:
Jack Aguero
770-965-9458
Pro Mach provides reliable packaging equipment and integrated solution sets from trusted brands that boost your ROI and minimize your headaches.
