Private equity firm AEA Investors is planning to acquire packaging equipment company Pro Mach in a $1bn deal.
An agreement to this effect will soon be signed between both companies.
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Headquartered in Ohio, US, Pro Mach designs, manufactures and sells packaging to a wide range of industries, such as food and drink, pharmaceutical and consumer goods.
Pro Mach’s current owner, US-based buyout firm Jordan, did not comment on the proposal. Jordan had acquired Pro Mach from Odyssey Investment Partners in 2011, for an undisclosed amount.
Earlier this month, Pro Mach acquired automated bottle unscramblers and orientors manufacturer Pace Packaging, in order to bolster its bottling and capping operations.
Pro Mach is considered to be one of North America’s largest integrated system providers and packaging and processing machinery manufacturers, selling more than 20 equipment brands worldwide.
Pro Mach president and CEO Mark Anderson previously said: "As we grow globally, we continue to look for opportunities that allow us to add best-in-class standalone solutions that ultimately enable us to offer a more complete range of integrated systems."
Pro Mach offers stretch sleeving equipment and end-of-line packaging solutions, including case packers, shrink wrappers and robotic equipment, as well as conventional palletizers, robotic palletizers, case elevators, sheet and pallet feeders, tape heads, case and tray packaging systems, and liquid bottle filling and capping machinery.
