On May 3, 2023, ProMach, a global leader in processing and packaging machinery solutions, announced an agreement wherein funds managed by BDT Capital Partners, LLC (“BDTCP”) will acquire a significant stake in the company. BDTCP is an affiliate of BDT & MSD Partners, and this acquisition will be made alongside Leonard Green & Partners, L.P. (“LGP”), ProMach's current majority owner. As part of this agreement, LGP will also invest fresh capital into ProMach, though specific financial details remain undisclosed. Established in 1998, ProMach boasts a diverse portfolio encompassing 46 top-tier processing and packaging solutions brands that cater to various manufacturers worldwide. The company specializes in numerous areas of production, ranging from processing to systems integration. Mark Anderson, ProMach’s CEO, expressed his enthusiasm about entering this new growth phase with LGP and BDT Capital Partners, highlighting the company's past achievements and looking forward to more success. He attributed the company’s accomplishments to the dedication of its employees, emphasizing their consistent performance and commitment. Both Byron Trott from BDT & MSD Partners and Jon Sokoloff from LGP praised ProMach's growth under Anderson's leadership over 17 years. They acknowledged the company's potential in emerging industry trends, such as sustainable packaging and automation technology adoption. The transaction is set to conclude in the latter half of 2023, pending standard regulatory approvals. Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC offered financial counsel to ProMach, while Latham & Watkins LLP and Thompson Hine LLP provided legal advisory services.