M&A Deal Summary

Cerberus Capital Management Acquires Closure Systems International

On October 14, 2019, asset manager Cerberus Capital Management acquired packaging company Closure Systems International from Reynolds Group Holdings

Acquisition Highlights
  • This is Cerberus Capital Management’s 1st transaction in the Packaging sector.
  • This is Cerberus Capital Management’s 46th transaction in the United States.
  • This is Cerberus Capital Management’s 1st transaction in Indiana.

M&A Deal Summary

Date 2019-10-14
Target Closure Systems International
Sector Packaging
Buyer(s) Cerberus Capital Management
Sellers(s) Reynolds Group Holdings
Deal Type Divestiture
Advisor(s) Goldman Sachs (Financial)
Debevoise & Plimpton (Legal)

Target

Closure Systems International

Indianapolis, Indiana, United States
Closure Systems International is a plastic closure design, manufacturing and high-speed capping equipment/application systems. Closure Systems International is based in Indianapolis, Indiana.

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Buyer(S) 1

Buyer

Cerberus Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1992
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cerberus Capital Management is a private investment firm that targets a wide range of global investments. Cerberus primarily looks for undervalued or distressed situations. Industry sectors of interest include aerospace and defense, apparel, automotive and industrial, building products, commercial services, consumer and retail, financial services, healthcare, manufacturing and distribution, paper, packaging, and printing, real estate, technology, telecommunications, transportation, and travel. In addition to private equity investing, Cerberus also provides corporate credit and acquires real estate. Cerberus was formed in 1992 by Steve Feinberg and is based in New York City.


DEAL STATS #
Overall 69 of 88
Sector (Packaging) 1 of 1
Type (Divestiture) 11 of 14
State (Indiana) 1 of 2
Country (United States) 46 of 64
Year (2019) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-09 Axsesstoday

Melbourne, Australia

Axsesstoday is a specialist provider of funding solutions for small to medium-sized enterprises (SMEs) in the hospitality, transport, and other sectors. Axsesstoday has provides a compelling and differentiated value proposition for merchants to offer finance to their end customers for their business-critical equipment needs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-22 Kellermeyer Bergensons Services

Maumee, Ohio, United States

Kellermeyer Bergensons Services is a provider of integrated facilities management services, including outsourced janitorial cleaning and other services, to some of the largest retail and grocery customers in the United States. Kellermeyer Bergensons Services was founded in 1967 and is based in Maumee, Ohio.

Buy -

Seller(S) 1

SELLER

Reynolds Group Holdings

Auckland,, New Zealand

Category Company
Founded 2006
Sector Consumer Products
Employees30,000
DESCRIPTION

Reynolds Group Holdings Limited is a manufacturer and supplier of consumer beverage and foodservice packaging products. Reynolds Group Holdings Limited is based in Auckland, New Zealand.


DEAL STATS #
Overall 1 of 1
Sector (Packaging) 1 of 1
Type (Divestiture) 1 of 1
State (Indiana) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-08 Graham Packaging

York, Pennsylvania, United States

Graham Packaging engages in the design, manufacture, and sale of customized blow-molded plastic containers for many of the world's largest branded consumer product companies for whom customized packaging design is a critical component in their efforts to differentiate their products to consumers. The company's products are made primarily from HDPE and PET resins for customers in the branded automotive, food & beverage, and household & personal care businesses.

Buy $4.5B