IGP-backed BMG acquires GN Thermoforming Equipment

Brown Machine Group, which is backed by Industrial Growth Partners, has acquired GN Thermoforming Equipment, a Chester, Nova Scotia-based provider of thermoforming and automation equipment.

Brown Machine Group, which is backed by Industrial Growth Partners, has acquired GN Thermoforming Equipment, a Chester, Nova Scotia-based provider of thermoforming and automation equipment. No financial terms were disclosed.

PRESS RELEASE

San Francisco, CA – Brown Machine Group (“BMG”), a leading provider of thermoforming and packaging systems for the food & beverage market, has acquired GN Thermoforming Equipment (“GN”). 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, headquartered in Beaverton, Michigan, is a portfolio company of Industrial Growth Partners (“IGP”).

Based in Chester, Nova Scotia Canada, GN has built a global reputation for excellence in innovation, equipment design and service throughout the industry. For over 40 years, GN has grown its global presence in the plastics industry, including through a technical service and sales center in the Czech Republic, and many independent agents operating worldwide. GN is the global leader in contact heat thermoformers and a growing provider of innovative form cut stack thermoforming machines.

The GN acquisition significantly expands BMG’s thermoforming product offering and provides greater access to global customers in the food packaging industry. GN’s machines are adept at quick change-overs and have an outstanding reputation for quality and generating strong ROIs for customers.

“GN Thermoforming Equipment’s unique technology and talent significantly increase the scope of BMG’s offering to reach small and medium size thermoforming customers,” says Brown Machine Group CEO, Greg Wolf. “BMG has a significant sales and service footprint throughout North America, whereas over half of GN’s sales are outside of North America. This acquisition greatly expands market access and growth for both entities.”

“BMG’s proven expertise in growth through acquisition is an exciting and significant step for GN Thermoforming Equipment and our employees,” says Jerome Romkey, President, GN Thermoforming Equipment. “Bringing our core technology, equipment and service offerings together, while expanding the overall scope of our customer base, is the next logical step for both companies.”

Acquisition Details – On March 1, 2021, BMG acquired GN. BMG and IGP continue to seek add-on acquisitions that can enhance BMG’s position as a leading thermoforming equipment, tooling and automation equipment supplier. To learn more about BMG, please visit www.brownmachinegroup.com.

Industrial Growth Partners, founded in 1997, is a San Francisco-based specialist private investment partnership with $2.2 billion of equity capital raised since inception. The firm invests exclusively in middle-market companies in the industrial sector in partnership with management teams.