Industrial Growth Partners, in partnership with management, has acquired Thermoforming Technologies Group LLC and simultaneously formed Brown Machine Group Holdings, LLC (“BMG”).

Founded in 1952 and headquartered in Beaverton, Michigan, BMG is a leading provider of turnkey thermoforming and packaging systems for the food & beverage market. BMG offers a broad portfolio of highly-engineered thermoforming and automation equipment, in addition to best-in-class tooling and a comprehensive offering of post-sale parts, service and support. BMG’s deep product and application expertise has enabled the company to serve as a comprehensive system solutions provider to its customers, the majority of which are blue-chip food & beverage packaging producers. The company is poised to benefit from secular trends driving demand for thermoforming equipment and greater adoption of automation technologies, including the increasing use of tamper-evident, fresh food, on-the-go and transparent packaging, the conversion from foam-based materials to more environmentally-friendly alternatives, as well as end-of-line packaging solutions that reduce costs and improve manufacturing throughput.

“IGP will be helpful in providing strategic and operational support to Brown Machine Group as we embark on the next chapter of our growth story,” said Bryan Redman, CEO at BMG. “With two decades investing in the industrial sector – in addition to their specific experience in the plastics and food & beverage markets – IGP brings a proven track record in supporting the expansion of businesses like BMG and we are looking forward to the partnership.”

Acquisition Details

On October 4, 2018, Industrial Growth Partners V, L.P., in partnership with management and certain outside investors, acquired BMG, marking the fifth platform investment for IGP’s fifth fund. The transaction creates a platform for the company to accelerate its growth, including the expansion of its extensive installed base of thermoforming and packaging equipment and the pursuit of strategic acquisition opportunities. The acquisition is an attractive fit with IGP’s strategy of investing in niche industrial companies with leading market positions and significant growth opportunities. To learn more about BMG, please visit www.brownmachinegroup.com.