M&A Deal Summary

Bway Acquires Industrial Container Services

On June 14, 2018, Bway acquired packaging company Industrial Container Services from Centerbridge Partners, Goldman Sachs Merchant Banking and Jefferies Capital Partners

Acquisition Highlights
  • This is Bway’s 6th transaction in the Packaging sector.
  • This is Bway’s 6th transaction in the United States.
  • This is Bway’s 1st transaction in California.

M&A Deal Summary

Date 2018-06-14
Target Industrial Container Services
Sector Packaging
Buyer(s) Bway
Sellers(s) Centerbridge Partners
Goldman Sachs Merchant Banking
Jefferies Capital Partners
Deal Type Secondary Buyout
Advisor(s) Piper Jaffray Companies (Financial)
Kirkland & Ellis (Legal)

Target

Industrial Container Services

Montebello, California, United States
Industrial Container Services LLC is a provider of reusable container solutions in the United States, providing new and reconditioned steel, plastic, and fiber drums. With 49 facilities across the United States and Canada, ICS collects, reconditions and distributes over 10 million steel, poly and intermediate bulk containers annually and is the only company capable of offering comprehensive services, including pickup and reconditioning of containers of all major packaging types, new container manufacturing and distribution, to customers nationally.

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Buyer(S) 1

Buyer

Bway

Atlanta, Georgia, United States

Category Company
Sector Packaging
DESCRIPTION

Bway Corp. is a manufacturer and distributor of metal and rigid plastic containers that are used primarily for packaging of industrial and consumer products.


DEAL STATS #
Overall 8 of 8
Sector (Packaging) 6 of 6
Type (Secondary Buyout) 1 of 1
State (California) 1 of 1
Country (United States) 6 of 6
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-27 Ball - Paint and General Line Plant

Hubbard, Ohio, United States

Ball Corp. - Paint and General Line Plant is a manufacture a variety of tinplate paint and general line cans. The Hubbard plant employs approximately 70 people and is based at Hubbard, Ohio.

Buy -

Seller(S) 3

SELLER

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2005
PE ASSETS 38.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 13 of 24
Sector (Packaging) 1 of 1
Type (Secondary Buyout) 5 of 9
State (California) 1 of 1
Country (United States) 12 of 22
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-06 Wastequip

Charlotte, North Carolina, United States

Wastequip is a North American manufacturer of waste and recycling equipment, with an international network of manufacturing facilities and the most extensive dealer network in the industry. Wastequip's broad range of waste and recycling equipment and systems is used to collect, process and transport recyclables, solid waste, liquid waste and organics. The Company's brands include Wastequip, Toter, Galbreath, Pioneer, Mountain Tarp, Cusco, Go To Parts, and Accurate. Wastequip was founded in1989 and is based in Charlotte, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-18 Civitas Solutions

Boston, United States

Civitas Solutions is a provider of home- and community-based health and human services to must-serve individuals with intellectual, developmental, physical or behavioral disabilities and other special needs. Since our founding in 1980, we have evolved from a single residential program to a diversified national network offering an array of quality services in 36 states. Civitas Solutions was established in 1980 and is headquartered in Boston, Massachusetts.

Buy $1.4B
SELLER

Goldman Sachs Merchant Banking

New York, New York, United States

Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 80 of 110
Sector (Packaging) 1 of 1
Type (Secondary Buyout) 24 of 32
State (California) 3 of 6
Country (United States) 56 of 78
Year (2018) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-14 Slickdeals

Las Vegas, Nevada, United States

Slickdeals LLC is an online community dedicated to sharing, rating and reviewing deals and coupons in the U.S. Slickdeals LLC was founded in 1999 and is based in Las Vegas, Nevada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-22 CityFibre

London, United Kingdom

CityFibre builds, designs and operates pure-fibre networks across the UK. As the UK’s only nationwide, wholesale provider of dark fibre, and with a range of active products, CityFibre serves tier 1 providers, local authorities, mobile operators and communications providers. CityFibre was founded in 2011 and is based in London, United Kingdom.

Buy £538M
SELLER

Jefferies Capital Partners

New York, New York, United States

Category Private Equity Firm
Founded 1994
PE ASSETS 850M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Jefferies Capital Partners is a private equity investment firm that seeks to invest in later-stage growth companies, management buyouts, and support of corporate expansion and industry consolidation. The firm makes equity and equity-linked investments between $20 million and $100 million per transaction. Jefferies does not invest in start-ups, early-stage ventures or real estate. The firm seeks companies with revenue between $10 million to $500 million per annum. Jefferies targets companies involved in the following industries: consumer, energy, financial services, healthcare, manufacturing and distribution, media, telecommunications and transportation. Jefferies Capital Partners is based in New York, New York.


DEAL STATS #
Overall 26 of 28
Sector (Packaging) 1 of 1
Type (Secondary Buyout) 4 of 4
State (California) 5 of 5
Country (United States) 25 of 27
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-01 CIBT

McLean, Virginia, United States

CIBT is a global provider of mobility services including visa, passport, and immigration documentation. CIBT serves multinational corporations, global travel management companies, tour and cruise operators, government agencies, and individual travelers. CIBT’s services simplify the time-consuming and complicated process of obtaining required travel documents and work authorizations, while providing an accurate and compliant service for corporate customers. CIBT was founded in 1989 and is based in McLean, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-29 Recordati

Milan, Italy

Recordati is an international pharmaceutical group dedicated to the research, development, manufacturing and marketing of pharmaceuticals. Headquartered in Milan, Italy, Recordati has operations in the main European countries, in Russia, other Central and Eastern European countries, Turkey, North Africa, the United States of America, Canada, Mexico and in some South American countries. An efficient field force of medical representatives promotes a wide range of innovative pharmaceuticals, both proprietary and under license, in a number of therapeutic areas including a specialized business dedicated to treatments for rare diseases. Recordati was founded in 1926 and is based in Milan, Italy.

Buy -