 "Stone Canyon buys container maker Bway from Platinum Equity for $2.4 bn")
Stone Canyon Industries has acquired BWAY Corp, which offers packaging solutions to various industries, from Platinum Equity for $2.4 billion. BWAY is a North American manufacturer of rigid metal and plastic containers used to package industrial, bulk food and retail goods.
Platinum Equity acquired BWAY in 2012. In January 2013, BWAY acquired Ropak, a complementary producer of rigid plastic containers.
“BWAY’s success is a testament to strong collaboration with Ken Roessler and his management team and the value of truly integrating M&A with operations at every level of the investment. The company is well positioned for continued success going forward,” said Louis Samson, partner, Platinum Equity.
Jim Fordyce, co-CEO of Stone Canyon Industries, said, “BWAY is a world class company with a great leadership team, dedicated employees and a very bright future. We look forward to working with Ken to help BWAY continue delivering on its strategic and operational plan as the company takes the next step in its evolution.”
With annual sales exceeding $1 billion, BWAY is considered to be a market leader in the general line packaging industry by providing rigid metal and plastic containers across North America. The company’s rigid metal containers include paint cans, steel pails, aerosol cans, F-style containers, monotop cans, pour top cans, ammunition boxes and an oil can. It also manufacture rigid plastic packaging including pails, drums, and hybrid paint cans.
Approximately 75 percent of BWAY’s business comprises general line packaging used by industrial manufacturers. Roughly 20 percent of its containers are allocated to food products. The remaining five percent accounts for production of ammunition boxes.
Platinum Equity acquired BWAY in 2012. In January 2013, BWAY acquired Ropak, a complementary producer of rigid plastic containers.
“BWAY’s success is a testament to strong collaboration with Ken Roessler and his management team and the value of truly integrating M&A with operations at every level of the investment. The company is well positioned for continued success going forward,” said Louis Samson, partner, Platinum Equity.
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BWAY’s EBITDA has grown approximately 45 percent from 2012 to 2016 mainly due to a combination of operational improvements and growth through acquisition. “Today we have a fundamentally sound business with great momentum, and we are poised for continued growth and long-term profitability as we transition to Stone Canyon’s ownership,” commented Ken Roessler, CEO, BWAY.
Jim Fordyce, co-CEO of Stone Canyon Industries, said, “BWAY is a world class company with a great leadership team, dedicated employees and a very bright future. We look forward to working with Ken to help BWAY continue delivering on its strategic and operational plan as the company takes the next step in its evolution.”
With annual sales exceeding $1 billion, BWAY is considered to be a market leader in the general line packaging industry by providing rigid metal and plastic containers across North America. The company’s rigid metal containers include paint cans, steel pails, aerosol cans, F-style containers, monotop cans, pour top cans, ammunition boxes and an oil can. It also manufacture rigid plastic packaging including pails, drums, and hybrid paint cans.
Approximately 75 percent of BWAY’s business comprises general line packaging used by industrial manufacturers. Roughly 20 percent of its containers are allocated to food products. The remaining five percent accounts for production of ammunition boxes.