M&A Deal Summary

Frontenac Acquires ProMach

On January 1, 1998, private equity firm Frontenac acquired packaging company ProMach

Acquisition Highlights
  • This is Frontenac’s 1st transaction in the Packaging sector.
  • This is Frontenac’s 21st transaction in the United States.
  • This is Frontenac’s 2nd transaction in Kentucky.
Investment Fate
  • ProMach was sold to a consortium of financial buyers in 2004.
  • ProMach was sold to a consortium of financial buyers in 2011.
  • ProMach was sold to a consortium of financial buyers in 2014.
  • ProMach was sold to a consortium of financial buyers in 2018.

M&A Deal Summary

Date 1998-01-01
Target ProMach
Sector Packaging
Buyer(s) Frontenac
Deal Type Buyout (LBO, MBO, MBI)

Target

ProMach

Covington, Kentucky, United States
ProMach is a provider of complete packaging machinery solutions, engineering and integration services, and related aftermarket products and services. ProMach brands operate across the entire packaging spectrum: filling and capping, flexibles, pharma, product handling, labeling and coding, and end of line. ProMach also provides Performance Services including integrated solutions, design/build, engineering services, and productivity software to optimize packaging line design and deliver maximum uptime. ProMach was founded in 1998 and is based in Covington, Kentucky.

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Buyer(S) 1

Buyer

Frontenac

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1971
PE ASSETS 2.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Frontenac is a Midwest US-based private equity firm that seek profitable, lower middle-market company investments with $5 to $25 million of EBITDA. Frontenac typically partners with management when pursuing acquisitions, including companies managed by owner-operators. Sectors of interest include financial services, healthcare services, education/HR services, manufacturing, publishing/media, and technology services. Frontenac was formed in 1971 and is based in Chicago, Illinois.


DEAL STATS #
Overall 23 of 81
Sector: Packaging M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 10 of 25
State: Kentucky M&A 2 of 3
Country: United States M&A 21 of 77
Year: 1998 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 SI International

Washington, District of Columbia, United States

SI International provided IT services, outsourcing, consulting, applications development and performance support to federal government agencies, especially in the areas of defense and intelligence.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-02-24 Mastering

United States

In 1996, Mastering Computers, a leading information technology (IT) training company with nationwide operations, was acquired by Eagle River Interactive, a public company founded and led by Terry Graunke. Mastering Computers leveraged Eagle River's interactive development skills to create a computer-based training library of more than 300 titles. The company also drew on its public parent's financial assets to expand its product line significantly into higher-margin training products and to expand geographically into Europe.

Sell $139M