Platinum Equity has closed its previously announced sale of BWAY Corp for $2.4 billion to Stone Canyon Industries LLC. BMO Capital Markets provided financial advice to Stone Canyon Industries on the transaction. BWAY is a maker of rigid metal and plastic containers used to package industrial, bulk food and retail goods.
SANTA MONICA, Calif., Aug. 16, 2016 /PRNewswire/ — Stone Canyon Industries, LLC, a global industrial holding company, today announced the completion of its previously announced acquisition from Platinum Equity of BWAY Corp. for $2.4 billion. BWAY is a North American manufacturer of rigid metal and plastic containers used to package industrial, bulk food and retail goods.
“We are excited to begin a new chapter in the history of BWAY under the ownership of Stone Canyon, and look forward to continued growth and long-term profitability,” said BWAY CEO Ken Roessler.
Jim Fordyce, co-CEO of Stone Canyon Industries, said his firm is eager to work with Mr. Roessler and BWAY’s management team.
“BWAY has a rich heritage of providing packaging solutions to its customers, and we are thrilled to form this partnership with Ken and help BWAY continue to successfully deliver on its strategic and operational plan,” said Mr. Fordyce.
BMO Capital Markets served as financial advisor to Stone Canyon Industries and Gibson, Dunn & Crutcher LLP served as its legal counsel.
About Stone Canyon Industries
Stone Canyon Industries, LLC (www.stonecanyonllc.com) is a global industrial holding company based in Santa Monica, California with subsidiaries involved in consumer & retail, food & ingredients, industrial, technology & business services and transportation. Founded in 2014, the company focuses on acquiring market-leading companies with strong management teams in highly defensible industries around the world.