Stone Canyon Industries to acquire Industrial Container Services

Posted June 15, 2018
Stone Canyon Industries LLC ("SCI"), through its subsidiary, BWAY Holding Company ("BWAY"), entered into a definitive agreement and plan of merger to acquire the parent holding company of Industrial Container Services ("ICS"), a leading provider of container solutions, container services, and container management systems.

ICS is currently majority-owned by investment funds affiliated with Centerbridge Partners, L.P. ("Centerbridge"). BWAY is a leading global supplier of industrial rigid packaging products and services.

The transaction, which is comprised of cash and stock consideration payable to ICS shareholders, has an enterprise value of approximately $1 billion. It is anticipated that on a pro forma basis, after giving effect to the acquisition, existing ICS equityholders will have an approximate 11% interest in BWAY.

Centerbridge Senior Managing Director Kyle Cruz will also be joining the board of BWAY upon closing of the transaction. Closing of the transaction is subject to customary closing conditions, including regulatory approvals.


Comments

To like this you need to register.
To do this, enter your name and email address.
Name:
Surname:
E-mail:
Sex:
If you are already registered
please enter your details here
To leave comments you need to register.
To do this, enter your name and email address.
Name:
Surname:
E-mail:
Sex:
If you are already registered
please enter your details here
We welcome comments that advance the story through relevant opinion and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Lesprom Network. For more information on our comment policy, see: http://www.lesprom.com/legal/comment_policy/
Back to top