Stone Canyon Industries has closed on the buy of Mauser Group, a supplier of rigid packaging products for industrial use, from Clayton, Dubilier & Rice (CD&R) in a $2.3 billion all-cash transaction. CD&R acquired Mauser in August 2014 for $1.65 billion.
Mauser manufactures and supplies plastic and steel drums and intermediate bulk containers (“IBCs”) for the chemical, industrial and food and beverage industries. The company is also a provider of reconditioning services for used plastic drums and IBCs of all products. Mauser’s 5,000 employees operate 111 production facilities across 18 countries in Europe, North America, Latin America and Asia. Mauser had revenues in 2016 of €1.4 billion ($1.5 billion) and is headquartered southwest of Cologne in Bruhl, Germany (www.mausergroup.com).
The buy of Mauser is Stone Canyon’s second investment in the rigid packaging industry. In June 2016, Stone Canyon acquired BWAY Corp. from Platinum Equity for $2.4 billion. Like Mauser, BWAY is a manufacturer of rigid metal and plastic containers. Platinum acquired BWAY in December 2012 from Madison Dearborn Partners for $1.2 billion.
BWAY’s products 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 Chicago (Oak Brook) and Atlanta (www.bwaycorp.com). Stone Canyon’s ownership of both BWAY and Mauser creates a global leader in containers and packaging for the chemical, industrial and food and beverage industries.
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 Los Angeles (www.stonecanyonllc.com).
Bank of America Merrill Lynch, Goldman Sachs, BMO Capital Markets, and Citigroup Global Markets provided committed financing for the transaction. Goldman Sachs was the financial advisor to Stone Canyon.
© 2017 Private Equity Professional | April 5, 2017
