Target: Pro Mach Inc
Price: $1 billion
Buyer: AEA Investors
Seller: The Jordan Company
Financial Adviser: Barclays Plc
Loveland, Ohio-based Pro Mach provides packaging products, including bottle-capping machinery and labeling equipment, for food and drink, pharmaceutical, consumer goods and industrial companies.
The people asked not to be named because the matter is not public. Representatives for AEA Investors and Pro Mach did not respond to requests for comment. The Jordan Company, the New York-based buyout firm that owns Pro Mach, also did not respond to requests for comment.
Reuters reported in May that Jordan was working with Barclays Plc to prepare a sale. Jordan and some members of Pro Mach’s management team acquired the company in 2011 from Odyssey Investment Partners LLC, another buyout firm, for an undisclosed amount.
Soyoung Kim and Greg Roumeliotis are correspondents for Reuters in New York.