BWay Corporation Completes Acquisition of Ropak
BWAY Corporation ("BWAY" or the "Company"), a Platinum Equity company and leading North American supplier of general line rigid containers, has announced that it has completed the acquisition of Ropak Packaging ("Ropak") from the LINPAC Group.
BWAY Corporation ("BWAY" or the "Company"), a Platinum Equity company and leading North American supplier of general line rigid containers, has announced that it has completed the acquisition of Ropak Packaging ("Ropak") from the LINPAC Group.
Ropak is a North American producer of rigid, plastic shipping containers serving the consumer goods, food processing, construction, dairy, petroleum and other industries.
"Acquiring Ropak is an exciting step in the evolution of our company and creates new opportunities for our customers, employees and other partners," said Kenneth Roessler, BWAY's President and Chief Executive Officer. "We are now focused on completing a seamless transition and realizing the benefits of bringing the two businesses together."
The acquisition of Ropak closed less than three months after Platinum Equity acquired BWAY in November 2012 and launched operational and M&A initiatives to strengthen and grow the company.
"Our plans to work with the management team and help BWAY grow and attain new levels of success are off to a fast start. The business has momentum and we are excited about the prospects," said Platinum Equity Partner Louis Samson. "We will continue evaluating opportunities to grow and expand the business, both organically and through other potential acquisitions."
Latham & Watkins LLP served as legal advisor to BWAY. McKenna Long & Aldridge LLP served as legal advisor and Rothschild Inc. served as financial advisor to LINPAC. The book runners for debt financing were Deutsche Bank, Bank of America Merrill Lynch and Goldman Sachs.
Source: LINPAC Group
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