Secondary Buyout • Packaging

Platinum Equity Acquires Bway

On October 2, 2012, private equity firm Platinum Equity acquired packaging company Bway from Madison Dearborn Partners for 1.2B USD

Acquisition Context
  • This is Platinum Equity’s 2nd transaction in the Packaging sector.
  • This is Platinum Equity’s 14th largest (disclosed) transaction.
  • This is Platinum Equity’s 48th transaction in the United States.
  • This is Platinum Equity’s 3rd transaction in Georgia.
Investment Fate
  • Bway was sold to a strategic buyer in 2016 for 2.4B USD.

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M&A Deal Summary

Date October 2, 2012
Target Bway
Sector Packaging
Buyer(s) Platinum Equity
Sellers(s) Madison Dearborn Partners
Deal Type Secondary Buyout
Deal Value 1.2B USD
Advisor(s) Goldman Sachs
Barclays Investment Bank
Deutsche Bank Corporate & Investment Banking (Financial)
Kirkland & Ellis (Legal)

Target Company

Bway

Atlanta, Georgia, United States
Bway Corp. is a manufacturer and distributor of metal and rigid plastic containers that are used primarily for packaging of industrial and consumer products.
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Buyer Overview 1

Buyer

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.


Deal Context for Buyer #
Overall 55 of 156
Sector: Packaging 2 of 6
Type: Secondary Buyout 5 of 42
State: Georgia 3 of 8
Country: United States 48 of 121
Year: 2012 5 of 5
Size (of disclosed) 14 of 31
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-08 Clipper Windpower

Cedar Rapids, Iowa, United States

Clipper Windpower is a wind energy technology, turbine manufacturing and wind project development company. Clipper Windpower was founded in 2001 and is based in Cedar Rapids, Iowa.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-19 Contego Healthcare

Bagshot, United Kingdom

Contego Healthcare is one of Europe’s leading and most technically advanced packaging manufacturers, makes cartons, leaflets, self-adhesive labels, and printed foils for blister packs for the pharmaceutical and healthcare markets. Contego Healthcare has a pan European focus with ten manufacturing sites in the UK, Italy, Germany, France and Ireland.

Sell £160M

Seller Profile 1

SELLER

Madison Dearborn Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 31.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Madison Dearborn Partners (MDP) is a large private equity firm that targets buyouts of private or publicly held companies, divestitures of larger companies, recapitalizations of family-owned or closely-held companies, acquisition-oriented financings, and financings to fund internal growth. MDP's target investment size is $100 to $600 million in buyout oriented transactions and $100 to $400 million in growth capital commitments. Areas of interest include basic industries (natural resources, chemicals, energy and power, automotive, building products, food, metals and mining, refining, paper, packaging and forest products, and general manufacturing), as well as communications, consumer products/services, financial services, and healthcare. Madison Dearborn Partners was formed in 1992 and is based in Chicago, Illinois.


Deal Context for Seller #
Overall 41 of 79
Sector: Packaging 2 of 3
Type: Secondary Buyout 8 of 14
State: Georgia 2 of 6
Country: United States 37 of 69
Year: 2012 3 of 3
Size (of disclosed) 12 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-09 Bolthouse Farms

Bakersfield, California, United States

Bolthouse Farms is a vertically integrated carrot and premium beverage manufacturer and distributor serving a broad customer base, including traditional retail grocery stores, mass merchants, club stores, and the natural foods channel. Bolthouse Farms was founded in 1915 and is based in Bakersfield, California.

Sell $1.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-17 Q9 Networks

Toronto, Ontario, Canada

Q9 Networks, Inc. is a provider of outsourced data center infrastructure for mission-critical IT operations. Operates three state-of-the-art data centers in Ontario and Alberta, Canada. Headquartered in Toronto, ON.

Buy CA$1.1B