M&A Deal Summary

Laud Collier Capital and Sun Capital Partners Acquire Coveris Group

On July 1, 2005, merchant bank Laud Collier Capital and private equity firm Sun Capital Partners acquired packaging company Coveris Group from The Sterling Group

Acquisition Highlights
  • This is Laud Collier Capital’s 1st and Sun Capital Partners’ 1st transaction in the Packaging sector.
  • This is Laud Collier Capital’s 1st and Sun Capital Partners’ 1st transaction in Austria.

M&A Deal Summary

Date 2005-07-01
Target Coveris Group
Sector Packaging
Buyer(s) Laud Collier Capital
Sun Capital Partners
Sellers(s) The Sterling Group
Deal Type Recapitalization
Advisor(s) Mesirow Financial Holdings, Inc. (Financial)

Target

Coveris Group

Vienna, Austria
Coveris is a global plastic packaging company formed by the combination of Exopack, Britton Group, Kobusch, PACCOR and Paragon Print & Packaging, the company is an established leader in the development, manufacture, and sourcing of flexible and rigid plastic and paper packaging, as well as coatings solutions for various consumer and industrial end-use markets. Coveris was founded in 2013 and is based in Vienna, Austria.

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Buyer(S) 2

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 8 of 13
Sector (Packaging) 1 of 1
Type (Recapitalization) 2 of 2
Country (Austria) 1 of 1
Year (2005) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-20 Tru-Circle

Wichita, Kansas, United States

Tru-Circle is a highly specialized manufacturer of extremely complex machined parts for the aerospace industry. The company manufactures rings or flanges used in turbine engines, as well as structural components and sub-assemblies.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-01 Oneida Molded Plastics

Oneida, New York, United States

Oneida Molded Plastics is a manufacturer of premium injection-molded plastic products and high quality secondary value-added services. Oneida Molded Plastics was founded in 1964 and is based in Oneida, New York.

Buy -
Buyer

Sun Capital Partners

Boca Raton, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 13.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Sun Capital's corporate headquarters in Boca Raton, Florida.
Sun Capital's corporate headquarters in Boca Raton, Florida.

Sun Capital Partners is a large private equity firm focused on leveraged buyouts, equity, debt, and other control investments in North America, Asia, and Europe. Sun looks for businesses that can benefit from the Firm's operating experience including underperformers, turnarounds, and special situations. Target companies typically have $50 million to $1 billion in revenue with strong market positions. Sectors of interest include paper and packaging, food and beverages, metals and mining, automotive after-market parts, consumer products, financial services, healthcare, media and communications, building products, telecommunications, technology, retailing and catalogs, restaurants, manufacturing and industrial. Sun Capital was formed in 1995 and is based in Boca Raton, Florida.


DEAL STATS #
Overall 21 of 169
Sector (Packaging) 1 of 10
Type (Recapitalization) 2 of 5
Country (Austria) 1 of 2
Year (2005) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-28 Sonneborn

Parsippany, New Jersey, United States

Sonneborn LLC is a provider of white oils, petrolatums, waxes, and other hydrocarbon specialty products such as creams and lotions, cosmetics, and pharmaceutical ointments. Sonneborn is based in Parsippany, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-19 Garden Fresh

San Diego, California, United States

Garden Fresh offers a broad variety of fresh food alternatives in an all-you-care-to-eat format. Each day begins fresh at the more than 100 company-owned restaurants in 11 states. More than 300 million guests since 1978 have helped us be number one in fresh produce and salads, made-from-scratch soups, hot pastas, freshly baked breads and muffins, fresh fruit, desserts, and more. Guests have the freedom to create their own wholesome meal in a one-of-a-kind dining experience in a friendly atmosphere and all at an everyday value.

Buy -

Seller(S) 1

SELLER

The Sterling Group

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 2.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Sterling Group is a private equity firm focused on acquiring middle-market businesses within basic manufacturing, industrial services, and distribution. Sterling looks for companies valued from $100 to $750 million with positive cash-flow, strong market positions, and potential to grow. Sterling avoids investments in financial services, real estate, healthcare, or information technology companies. The Sterling Group was formed in 1982 and is based in Houston, Texas.


DEAL STATS #
Overall 4 of 29
Sector (Packaging) 1 of 3
Type (Recapitalization) 1 of 1
Country (Austria) 1 of 1
Year (2005) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-03 HydroChem

Deer Park, Texas, United States

HydroChem LLC is a provider of industrial services, including chemical cleaning, hydroblasting, tank cleaning, and mechanical and industrial vacuuming.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-25 Panolam Surface Systems

Shelton, Connecticut, United States

Panolam Surface Systems is a manufacturer of thermally fused melamine (TFM) panels and high-pressure laminates (HPL). TFM and HPL are used to manufacture kitchen and bath cabinetry, residential and commercial furniture, store fixtures and counter-tops. Panolam Industries International was founded in 1997 and is based in Shelton, Connecticut.

Buy $345M