Private equity firm Odyssey Investment Partners LLC has purchased Fischbein LLC, a packaging machinery and material-handling equipment supplier.

Suwanee, Ga.-based Fischbein makes engineered components and systems for packaging and material handling. The company’s customers include companies in the agriculture, food, pet food, minerals and chemicals markets. Terms of the deal were not disclosed.

This is Odyssey’s 10th investment from Odyssey Investment Partners Fund IV, which closed with $1.5 billion in capital in March 2009. The New York firm has about $3 billion in assets under management and focuses on making control investments. Odyssey’s portfolio companies include Integrated Power Services, BarrierSafe Solutions International Inc. and Peninsula Packaging Co.

Fischbein was owned by private equity firm MSouth Equity Partners LLC, an Atlanta firm with $700 million in assets under management.

Sagent Advisors represented Fischbein for the deal.

The transaction follows several other packaging deals, including Grupo San Cayetano and JZ International’s creation of Oneworld Packaging, a joint venture that will manufacture biodegradable containers, and Sun Capital Partners Inc.’s decision to combine five of its portfolio companies into one large packaging company.

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