KLW Plastics, a portfolio company of KODA Enterprises Group, has been acquired by BWAY Corporation, a portfolio company of Stone Canyon Industries.
KLW Plastics, a portfolio company of KODA since 2005, is a manufacturer of one to seven gallon rigid and semi-rigid tight-head plastic containers that are used in the food, chemical and agricultural end-markets. The company has a 40,000 sq. ft. manufacturing and headquarters facility located northeast of Cincinnati in Monroe, OH, with additional manufacturing facilities in Houston and Atlanta (www.klwplastics.com).
BWAY is a manufacturer of rigid metal and plastic containers that are used primarily for packaging of industrial, bulk food and retail goods. Products include aerosol cans, ammunition boxes, cone and pour top cans, metal paint cans, oil cans, and plastic drums. The company is led by CEO Ken Roessler. BWAY operates 25 plants throughout the United States and Canada and is based in Atlanta (www.bwaycorp.com).
Stone Canyon Industries acquired BWAY from Platinum Equity in August 2016 for $2.4 billion. Platinum acquired BWAY in December 2012 from Madison Dearborn Partners for $1.2 billion.
Stone Canyon invests in companies valued between $50 million and $1 billion. Sectors of interest include consumer and retail; food and ingredients; industrial; technology and business services; and transportation. The firm was founded in 2014 and is led by Co-CEOs James Fordyce and Adam Cohn and is headquartered in Santa Monica (www.stonecanyonllc.com).
KODA Enterprises Group invests in manufacturing, distribution and consumer products companies that have from $20 million to $100 million in revenues and $2 million to $10 million in EBITDA. Sectors of specific interest include building products and services; chemicals; industrial distribution and services; metals; paper and packaging; and rubber and plastics. KODA was founded in 1989 and is headquartered in Waltham, MA (www.koda.com).
New York-based investment bank Sperry, Mitchell & Company (www.sperrymitchell.com) was the exclusive financial advisor to KLW Plastics.
© 2016 Private Equity Professional • 9-16-16
