M&A Deal Summary

Leonard Green & Partners and Omnes Capital Acquire ProMach

On January 29, 2018, private equity firms Leonard Green & Partners and Omnes Capital acquired packaging company ProMach from AEA Investors

Acquisition Highlights
  • This is Leonard Green & Partners’ 2nd and Omnes Capital’s 2nd transaction in the Packaging sector.
  • This is Leonard Green & Partners’ 67th and Omnes Capital’s 8th transaction in the United States.
  • This is Leonard Green & Partners’ 1st and Omnes Capital’s 1st transaction in Kentucky.

M&A Deal Summary
Date 2018-01-29
Target ProMach
Sector Packaging
Buyer(s) Leonard Green & Partners
Omnes Capital
Sellers(s) AEA Investors
Deal Type Secondary Buyout
Advisor(s) Morgan Stanley
Goldman Sachs (Financial)
Fried Frank Harris Shriver & Jacobson
Thompson Hine (Legal)

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) 2

Buyer

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.

DEAL STATS #
Overall 72 of 102
Sector (Packaging) 2 of 2
Type (Secondary Buyout) 26 of 47
State (Kentucky) 1 of 1
Country (United States) 67 of 94
Year (2018) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-15 Motorsport Aftermarket Group

Coppell, Texas, United States

Motorsport Aftermarket Group (MAG) is a large distributor and manufacturer of branded aftermarket products for the powersports industry in North America. MAG provides dealers, e-commerce sites and their enthusiast end-users with parts, accessories and apparel for motorcycles, ATVs and UTVs. The Company’s brands include Vance & Hines, Kuryakyn, Performance Machine, QuadBoss, DragonFire and ProTaper. Motorsport Aftermarket Group was formed in 2000 and is based in Coppell, Texas.

Sell $300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-31 Tourneau

New York City, New York, United States

Tourneau, Inc. is a luxury watch retailer in the United States with 28 retail locations across 10 states.

Sell -
Buyer

Omnes Capital

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 5.7B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Omnes Capital formerly known as Credit Agricole Private Equity (CAPE) is the investment arm of financial services group Credit Agricole. Omnes Capital looks to invest in a range of investment stages and transaction types, including LBO/expansion, venture capital, mezzanine, renewable energy, co-investment, infrastructure, and special situations. The Firm's LBO/expansion group looks to invest €25 to €80 million to support growth initiatives and buyouts of small and mid-cap businesses operating in a variety of industries. Omnes Capital generally invests in businesses operating in France and Italy. Omnes Capital's mezzanine area was formed in 2002 and looks to provide €5 to €30 million of junior capital to similar sized established businesses. In addition to Omnes Capital's traditional equity and subordinated debt investment arm, the Firm also invests in infrastructure projects as well as provides capital for distressed businesses with €10 to €150 million in revenue. Omnes Capital was formed in 2004 and is based in Paris.

DEAL STATS #
Overall 133 of 162
Sector (Packaging) 2 of 2
Type (Secondary Buyout) 21 of 26
State (Kentucky) 1 of 1
Country (United States) 8 of 10
Year (2018) 2 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-25 Circet

Sollies-Pont, France

Circet is a provider of telecoms infrastructure services. Circet's clients include telecoms operators, manufacturers of telecoms equipment, key accounts owning infrastructures, infrastructure operators, the state and local authorities. Circet was founded in 1993 and is based in Sollies-Pont, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-04 Nanomakers

Rambouillet, France

Nanomakers designs, produces (in Rambouillet, France) and sells in industrial quantities patented nanoscale silicon-based powders for the disruptive transformation of industrial materials, such as: the tripling of the specific energy density of the Li-ion battery anodes, the lightening or the mechanical reinforcement of the materials (metal alloys, elastomers). Nanomakers was founded in 2010 and is based in Rambouillet, France.

Buy -

Seller(S) 1

SELLER

AEA Investors

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

AEA Investors is a private investment firm focused on investing in and acquiring businesses headquartered primarily in the US, Europe, and China. AEA looks for companies operating in stable to growing industries with a proven ability to generate positive cash-flow. Broad sectors of interest include value-added industrial products/services, specialty chemicals, consumer products, and services. In addition to its primary middle-market private equity fund, AEA maintains additional funds targeted towards mezzanine financing, senior secured debt, and small business buyouts. AEA Investors was formed in 1968 and is based in New York City.

DEAL STATS #
Overall 50 of 78
Sector (Packaging) 3 of 5
Type (Secondary Buyout) 19 of 34
State (Kentucky) 1 of 2
Country (United States) 47 of 71
Year (2018) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-30 Mesa Line Services

Alvin, Texas, United States

Mesa Line Services is a provider of outsourced electric utility infrastructure services in the Southwest United States. Mesa Line Services offer a full suite of electrical infrastructure services while utilizing union labor from the International Brotherhood of Electrical Workers (IBEW). Mesa Line Services was founded in 2014 and is based in Alvin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-31 Spectrum Plastics Group

Alpharetta, Georgia, United States

Spectrum Plastics Group is a manufacturer of the thermoplastic profile, tube, and sheet plastic extrusions used in industrial, consumer, and other applications. Spectrum Plastics Group has manufacturing facilities in the U.S. and Mexico serving a variety of end-markets, including aerospace, retail, medical, traffic control, lighting, and fence. Spectrum Plastics Group was founded in 2017 and is based in Alpharetta, Georgia.

Buy -
Mergr

Product

Company

Legal