LOS ANGELES (August 16, 2016) – Platinum Equity announced today that the sale of BWAY Corp. to Stone Canyon Industries, LLC for $2.4 billion has been completed. BWAY is a North American manufacturer of rigid metal and plastic containers used to package industrial, bulk food and retail goods.
Platinum Equity acquired BWAY in 2012. In January 2013 BWAY acquired Ropak, a complementary producer of rigid plastic containers.
“BWAY is a fundamentally strong business that is poised for continued growth going forward,” said Platinum Equity Partner Louis Samson. “We are proud of everything BWAY accomplished during our ownership and we wish Ken Roessler, his management team and all of the company’s employees great success for the future.”
Goldman, Sachs & Co. is serving as financial advisor to Platinum Equity and Latham and Watkins is serving as Platinum Equity’s legal counsel.
Founded in 1995 by Tom Gores, Platinum Equity (www.platinumequity.com) is a global investment firm with more than $6 billion of assets under management and a portfolio of more than 25 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 20 years Platinum Equity has completed more than 175 acquisitions.