J.P. Morgan Markets Odyssey Credit

J.P. Morgan is syndicating a $115 million credit for Pro Mach.

  • 19 Nov 2004
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J.P. Morgan is syndicating a $115 million credit for Pro Mach. The credit backs Odyssey Investment Partners' acquisition of the company from private equity firm Frontenac Co. The entire facility went out to investors at LIBOR plus 2 3/4%, investors noted. It comprises a $20 million revolver and $95 million term loan.

The company makes packaging machinery. Frontenac partnered with J.P. Richard in the summer of 1998 to form the company through acquisitions of packaging machinery companies, explained David Katz, a managing director with Frontenac. The first acquisition was made in the fourth quarter of 1998. Odyssey officials did not return calls. A J.P. Morgan spokesman declined comment.

  • 19 Nov 2004

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