Private equity firm Odyssey Investment Partners has acquired US-based packaging machinery and material handling equipment supplier Fischbein from a group of investors led by MSouth Equity Partners.
Fischbein CEO Jeff Reed said the company plans to expand its capabilities to better serve existing and future customers, and to improve its growth prospects in North America and around the world, together with its new strategic partner.
"The Odyssey team’s deep understanding of our industry and end markets will be a valuable resource as we build on our considerable experience in the packaging and material handling equipment sectors," Reed said.
Fischbein manufactures engineered components and systems for packaging and material handling applications. Its Packaging Machinery segment produces open mouth bag closing equipment for companies in the agriculture, food, pet food, minerals and chemicals end markets.
The company’s Material Handling segment produces flexible and rigid conveyors serving the retail, distribution center, parcel/post and e-commerce sectors.
The parties have not disclosed the transaction value.