One thing you might want to consider.
If the machine is located an inconvenient distance from the power source, it might make sense to install a MLO panelboard near the machine and power the machine up off a breaker in the panelboard. That way you can use that to disconnect the machine control panel if you need to work inside the control panel. It also gives you a place to add a few circuits down the road if needed. Maybe a 225A panel would make sense.
Even if you decide not to install some kind of local disconnect, it might make sense to run a larger feeder so down the road you can tap off the feeder. Probably is not all the much difference in cost between running (3) #2 and (3) 1/0.
Incidentally 670.4 does not say to use 125% of the FLA as the minimum ampacity of the feeder. Read it carefully. 125% will work and be code compliant but it is not what is actually required.