Jordan Co looks to sell Pro Mach for nearly $1bn


exitNew York-based private equity firm The Jordan Company is reportedly looking to exit its portfolio company Pro Mach.

The packaging equipment company could be valued at close to $1bn in a deal, said Reuters, citing people familiar with the matter.

Jordan Co has hired Barclays to help sell the company, which currently has an EBITDA of nearly $90m, said the people.

The firm bought Pro Mach from fellow private equity firm Odyssey Investment Partners in 2011.

The company provides its packaging products to food and beverage, pharmaceutical, consumer goods and industrial businesses.

Earlier this month it was reported that Jordan had exceeded the $3bn target for its third private equity fund.

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