Deal of the Year, 2017: KPS Capital Partners, Anchor Glass


Photo courtesy of KPS
SNAPSHOT
  • Company: Anchor Glass Container CorpLender: Credit Suisse, Citigroup Global Markets Inc. and Morgan Stanley
  • Legal advisor: Baker & McKenzie provided legal advice to CVC, BA Glass; Paul, Weiss, Rifkind, Wharton & Garrison LLP advised KPS, Anchor Glass
  • 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 ...

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