Arcline Investment Management (“Arcline), a growth-oriented private equity firm, today announced that it has sold its portfolio companies American Holt and Pride Engineering (collectively “AmHolt”) to ProMach.
With facilities in Massachusetts, Quebec, and Minnesota, AmHolt is a collection of leading brands that provide engineered aftermarket parts and consumables to the food and beverage packaging and processing markets. Through a relentless focus on solving customer pain-points with superior customer service and high ROI, up-engineered products, AmHolt has established itself as a go-to-provider of full lifecycle solutions to premier consumer packaged goods and packaging materials producers.
Cliff Gilbert, CEO of AmHolt, commented, “Our partnership with Arcline enabled the AmHolt group of companies to successfully execute on our strategic vision of becoming the preferred vendor for high-quality, mission-critical aftermarket parts and consumables for our customers. We thank our team members, valued customers, and Arcline for the collective success we’ve achieved and look forward to the next chapter of growth as part of ProMach.”
“We are excited to welcome the AmHolt team to ProMach,” said Mark Anderson, President and CEO of ProMach. “Their addition to our business continues the expansion of our product solutions portfolio, and it significantly expands our ability to serve our customers throughout the lifecycle of their equipment.”
Anderson continued, “The AmHolt companies are well recognized for their quality design and manufacture, as well as for their ability to partner with consumer packaged goods companies to improve efficiency and uptime, and we are proud to welcome their world-class products into our portfolio.”
BMO Capital Markets served as financial advisor, and Ropes & Gray LLP and Fredrikson & Byron P.A. served as legal advisors to Arcline in connection with the transactions.
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