Pro Mach was formed when Harvey & Company and a Chicago-based private equity fund partnered with CEO J-P Richard to build a leading packaging machinery manufacturer serving the food, cosmetic, and pharmaceutical markets. From the outset, the company’s strategy was to become the world’s leading supplier of packaging machinery for Fortune 500 food and beverage customers seeking to consolidate their fragmented supplier base. Through internal growth and a series of 12 complementary acquisitions, Pro Mach became the second largest packaging machinery manufacturer in North America.
Harvey & Company initiated the partnership between CEO J-P Richard and the private equity fund, that committed $50 million of equity to fund the build-up. Harvey & Company initiated 11 of Pro Mach’s 12 initiate acquisitions, including: Wexxar Packaging Machinery Ltd., Brenton Engineering Company, Roberts Polypro, Inc., Ossid Corporation, Axon Corporation, Rennco, Inc., Orion Packaging, Inc., Styrotech Corporation, Belcor Industries, Inc., Ram Center, Inc., and ID Technology Corporation. In December 2004, Pro Mach was sold for over $200 million, generating a substantial gain for all shareholders, including some of the owners of the businesses acquired by Pro Mach who chose to retain equity ownership and participate in the growth of the company.