Investment firm Platinum Equity’s affiliate has completed the previously announced acquisition of BWAY, a North American supplier of general line rigid containers for $1.24bn, from Madison Dearborn Partners through a merger.
Platinum Equity partner Louis Samson said the company will work with the management team to pursue better opportunities to grow and expand the business organically as well as through potential new acquisitions.
"We are excited about their commitment to this transition as it is a clear demonstration of their belief in our ability to work together, create value and help the company realize its full potential," Samson said.
The transaction announced in October 2012 was financed through a combination of equity contributed by Platinum Equity along with certain management members, while Bank of America Merrill Lynch and Deutsche Bank provided debt financing.
BWAY operates 22 plants throughout the US and Canada and serves customers on a national basis.
