Financial adviser: Morgan Stanley and Citi provided financial advice to CVC, BA Glass, while Credit Suisse Securities (USA) and J.P. Morgan Securities advised KPS, Anchor Glass
WHY THEY WON
Sale to CVC generated 5x return
Deal produced gross IRR of 132.4 pct
Adjusted EBITDA rose nearly 59 pct under KPS
Anchor Glass enterprise value under KPS more than doubled to $1.04 bln
KPS Capital Partners’ success with Anchor Glass Container stemmed from a combination of actions, led by KPS and company management. The moves helped the bottle maker boost EBITDA nearly 59 percent in less than three years, said Jay Bernstein, a partner ...