CINCINNATI — Processing and packaging company ProMach announced BDT Capital Partners (BDTCP) LLC will acquire a significant stake in the company alongside the current majority owner, Leonard Green & Partners L.P.

BDTCP is an affiliate of the merchant bank BDT & MSD Partners.

Financial terms of the deal were not disclosed. ProMach said LGP will invest new capital into the company as part of the agreement.

“We are extremely enthusiastic as we enter our next phase of growth with two exceptional partners in LGP and BDT Capital Partners that share our common vision,” said Mark Anderson, president and chief executive officer of ProMach. “ProMach has grown tremendously due to the hard work and creativity of our people that deliver innovative solutions to our customers every day across many different segments of the consumer products marketplace. Our outstanding management team appreciates the strong existing partnership with LGP and looks forward to working with both them and the team at BDT Capital Partners as we continue our focus on growth and value creation for our customers across the globe.”

ProMach has grown its portfolio to include 46 processing and packaging solutions product brands since its founding in 1998. ProMach brands manufacture, distribute, integrate and support solutions across the entire production line.

“Under Mark Anderson’s skilled leadership over the past 17 years, ProMach has established an exceptional track record of performance and solidified its position as a leader in the US processing and packaging machinery market,” said Byron Trott, chairman and co-CEO of BDT & MSD Partners. “We believe ProMach is well positioned to capitalize on secular industry tailwinds, including the transition to sustainable packaging and the accelerating adoption of automation technologies, and we look forward to supporting the company’s continued expansion and success.”

ProMach expects the transaction to close in the second half of 2023.

“We look forward to partnering with BDTCP in the next stage of ProMach’s growth and success,” said Jon Sokolof, LGP managing partner. “Since we partnered with the ProMach team over five years ago, the company has been a consistent strong performer and has delivered exceptional growth and value to all stakeholders with its proven business process.”