Italian packaging machines maker IMA has struck a deal with US merchant bank BDT & MSD Partners, as private equity firm BC Partners agreed to sell its stake.

According to a statement from the company on Monday, this move is expected to boost IMA's growth in the US market.

Sources familiar with the matter revealed that the entire IMA company will be valued between €6.5bn and €7bn ($7.2bn to $7.7bn) as a result of the deal.

Previously, another source had estimated the value to be approximately 6.5bn euros.

BC Partners' stake amounted to about 45%

According to one of the sources, BC Partners' stake in IMA was estimated to be around 45% of the company.

In a statement, the company confirmed that Italy's Vacchi family will still retain the majority ownership of IMA.

IMA's Chairman and CEO Alberto Vacchi expressed confidence in the partnership with BDT & MSD Partners, stating that their long-term vision and expertise in supporting family enterprises make them an ideal partner to help accelerate global growth, especially in the US market.

IMA aims for growth in the US

Sources informed Reuters that IMA is keen on expanding its US presence through organic growth and potential mergers and acquisitions.

The sale of BC Partners' stake in IMA marks a significant development. It occurred just two and a half years after BC Partners, in conjunction with the Vacchi family, took the company private from the Milan stock exchange when its equity value was valued at just under €3bn.