M&A Deal Summary

Laud Collier Capital, CCMP Capital and Goldman Sachs Merchant Banking Acquire Berry

On May 28, 2002, merchant bank Laud Collier Capital, private equity firm CCMP Capital and private equity firm Goldman Sachs Merchant Banking acquired plastics company Berry from First Atlantic Capital for 838M USD

Acquisition Highlights
  • This is Laud Collier Capital’s 1st, CCMP Capital’s 1st and Goldman Sachs Merchant Banking’s 1st transaction in the Plastics sector.
  • This is Laud Collier Capital’s , CCMP Capital’s 11th and Goldman Sachs Merchant Banking’s 32nd largest (disclosed) transaction.
  • This is Laud Collier Capital’s 6th, CCMP Capital’s 31st and Goldman Sachs Merchant Banking’s 5th transaction in the United States.
  • This is Laud Collier Capital’s 1st, CCMP Capital’s 1st and Goldman Sachs Merchant Banking’s 1st transaction in Indiana.
Investment Fate
  • Berry was sold to a consortium of financial buyers in 2006 for 2.3B USD.
  • Berry went public in 2012.

M&A Deal Summary
Date 2002-05-28
Target Berry
Sector Plastics
Buyer(s) Laud Collier Capital
CCMP Capital
Goldman Sachs Merchant Banking
Sellers(s) First Atlantic Capital
Deal Type Secondary Buyout
Deal Value 838M USD

Target

Berry

Evansville, Indiana, United States
Berry's corporate headquarters in Evansville, Indiana.
Berry's corporate headquarters in Evansville, Indiana.
Berry is a manufacturer and marketer of plastic packaging products for personal care, household, industrial, and transportation markets. Berry was incorporated in 1967 and is based in Evansville, Indiana.

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Buyer(S) 3

Buyer

Laud Collier Capital

Short Hills, New Jersey, United States

Investor Investor Investor

Category Merchant Bank
Founded 2002
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Laud Collier Capital LLC is a private equity firm focused on acquiring controlling interests in US based middle-market companies. Sectors of interest include basic materials, consumer products, business services, distribution, and transportation. Laud Collier looks to commit $5 to $25 million of equity capital per transaction in companies valued up to $150 million. Laud Collier will not invest in oil and gas exploration, real estate, technology development, or retailing. Laud Collier Capital LLC was formed in 2002 and is based in Chatham, New Jersey.

DEAL STATS #
Overall 6 of 13
Sector (Plastics) 1 of 2
Type (Secondary Buyout) 1 of 1
State (Indiana) 1 of 2
Country (United States) 6 of 12
Year (2002) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-08-01 Minco

Midway, Tennessee, United States

Minco is a manufacturer of fused silica and fused magnesia. In the fused silica market, Minco primarily supplies the precision investment casting industry. The company supplies fused magnesia for electrical heating elements, refractory systems, brakes and other applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-23 Lofland Acquisition

Houston, Texas, United States

Lofland Acquisition, Inc. is a distributor of steel rebar and other construction related products.

Sell $47M
Buyer

CCMP Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 18.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

CCMP Capital is a large private equity firm focused on buyout and growth equity valued up to $2 billion. Sectors of interest include consumer, retail, and services (specialty retail, direct marketing, consumer packaged goods); media/telecom (consumer and trade publishing, content and programming, broadcasting, cable, wireless and wire line communications ); industrial (chemicals, manufacturing, distribution, automotive); energy (exploration and production, power generation, renewable energy, services); and healthcare (services, pharmaceuticals, medical devices). The Firm's target investment size is $100 to $500 million. CCMP Capital Advisors was formed in 1984 and was spun off in 2006 from JP Morgan Chase. The Firm is based in New York City.

DEAL STATS #
Overall 35 of 97
Sector (Plastics) 1 of 3
Type (Secondary Buyout) 2 of 22
State (Indiana) 1 of 1
Country (United States) 31 of 75
Year (2002) 4 of 13
Size (of disclosed) 11 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-04-12 JetBlue

Long Island City, New York, United States

JetBlue is a low-fare, low-cost passenger airline serving US business and leisure travelers. JetBlue Airways was formed in 1998 and is based in Long Island City, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-07-01 Archway Broadcasting Group

East Point, Georgia, United States

Archway Broadcasting Group LLC engages in operating radio stations in small to medium-sized markets.

Buy -
Buyer

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 9 of 183
Sector (Plastics) 1 of 2
Type (Secondary Buyout) 1 of 67
State (Indiana) 1 of 2
Country (United States) 5 of 127
Year (2002) 2 of 4
Size (of disclosed) 32 of 52
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-01-01 HighPoint Resources

Denver, Colorado, United States

HighPoint Resources is an exploration and production company focused on the development of oil and natural gas assets located in the Denver-Julesburg Basin of Colorado. The Company's assets are located in the NE Wattenberg and Hereford Fields and in rural settings that are favorable for oil development.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-07-01 Burger King

Miami, Florida, United States

Burger King is a global chain of hamburger fast food restaurants. Burger King operates in-house restaurants as well as serves as a franchisor to thousands of independent locations around the world. Burger King was established in 1954 and is headquartered in Miami, Florida.

Buy $2.3B

Seller(S) 1

SELLER

First Atlantic Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

First Atlantic Capital is a private equity firm that seeks investments in medium-sized US-based businesses valued between $100 and $500 million. Sectors of interest include business services, industrial and consumer goods, packaging, plastics, food processing, general manufacturing, and value-added distribution. First Atlantic typically targets control investment situations. The Firm has a particular interest in companies with strong expansion opportunities, either organic or through acquisitions, or companies with strong business foundations where a few operational improvements can substantially better financial performance. In addition to its private equity investing activity, First Atlantic manages First Atlantic Real Estate, a New York based real estate investment firm wholly owned by First Atlantic Capital. First Atlantic Capital was formed in 1989 and is based in New York City.

DEAL STATS #
Overall 2 of 13
Sector (Plastics) 1 of 2
Type (Secondary Buyout) 1 of 6
State (Indiana) 1 of 1
Country (United States) 2 of 13
Year (2002) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-12-01 Ranpak

Concord Township, Ohio, United States

Ranpak manufactures paper-based systems for protective packaging needs including cushioning, void-fill and wrapping applications. Ranpak's goal was to create the first environmentally responsible system to effectively protect products during shipment. The development and improvement of materials, systems and total solution concepts have earned Ranpak a reputation as an innovative leader in e-commerce and industrial supply chain solutions. Ranpak was founded in 1972 and is based in Concord Township, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-16 Golfsmith

Austin, Texas, United States

Golfsmith is a specialty retailer of golf equipment and related accessories in the industry and is an established designer and marketer of golf equipment. Golfsmith offers equipment from leading manufactures such as Callaway, Cobra, Footjoy, Nike, Ping, Taylor Made, and Titleist in addition to proprietary brands Golfsmith, Lynx, Snake Eyes, and Killer Bee. The Company markets its products through 42 superstores as well as through its direct-to-consumer channel, which includes clubmaking and accessory catalogs and an Internet site.

Buy -
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