The Carlyle Group has completed the acquisition of ITW’s Industrial Packaging Group, renamed Signode Industrial Group, for $3.2 billion. Signode is a supplier of industrial packaging consumables, tools and equipment.
Global alternative asset manager The Carlyle Group L.P. (NASDAQ: CG), announced today it has completed the acquisition of ITW’s Industrial Packaging Group, renamed Signode Industrial Group, for $3.2 billion. Signode Industrial Group is a leading global supplier of industrial packaging consumables, tools and equipment. The company’s products secure and protect industrial and consumer goods during manufacturing, storage and transit via commercial trucks, railcars, ocean ships or airfreight. As a leading company in the industrial packaging industry, Signode Industrial Group will build on a foundation of supporting brands with more than a century of outstanding performance.
“We are excited to invest in Signode Industrial Group and believe its strong market position, quality brands and global footprint will enable the company to capitalize on opportunities around the world in both mature and emerging markets. We look forward to our partnership with the company’s management team and employees,” said Brian Bernasek, Managing Director of The Carlyle Group. The equity investment in Signode Industrial Group was funded from Carlyle Partners VI, Carlyle’s US buyout fund.
Mark Burgess, the CEO of Signode Industrial Group, added, “This is a powerful new chapter for Signode Industrial Group. Our brands generate unparalleled brand recognition and respect around the world. We have a global scale with 88 manufacturing locations across six continents. Now as an independent company supported by Carlyle’s industrial focus and global network, we are well positioned for terrific growth and success.”
About Signode Industrial Group
Signode Industrial Group (SIG) is a leading manufacturer of strap, stretch, and protective packaging consumables, tools, and equipment. The company’s products are used to contain, unitize, and protect goods during manufacturing, transport, and warehousing. Its products are sold around the world under a broad array of well-known brand names, including Signode, Strapex, Orgapack, Fleetwood, Mima, Angleboard, Haloila, Muller, Multi-Wall and Shippers. Signode Industrial Group employs nearly 7,000 people across six continents.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $199 billion of assets under management across 120 funds and 133 fund of funds vehicles as of March 31, 2014. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,600 people in 38 offices across six continents.