2014

Platinum Equity Completes Acquisition Of BWAY Parent Company, Inc.

ATLANTA, Nov. 5, 2012 /PRNewswire/ -- BWAY Parent Company, Inc., a leading North American supplier of general line rigid containers, announced today it has been acquired by an affiliate of Platinum Equity in a transaction valued at approximately $1.24 billion.  The transaction, first announced October 2, 2012, closed today.

"We are excited about this next step in the evolution of our company as we transition to new ownership," said Kenneth Roessler, BWAY President and Chief Executive Officer. "Platinum provides strong operational capabilities that perfectly fit our strategic focus for the next chapter. Our goals are fully aligned with those of our new partners and we are excited to get to work."

Under the terms of the agreement, Platinum Equity acquired BWAY from Madison Dearborn Partners via a merger. Senior executives of BWAY and a significant number of other employees invested in the transaction alongside Platinum.

"BWAY has a strong management team and dedicated employees. We are excited about their commitment to this transition as it is a clear demonstration of their belief in our ability to work together, create value and help the company realize its full potential," said Platinum Equity Partner Louis Samson.

A team of Platinum operations professionals has been deployed to work with BWAY and help ensure a seamless transition. Mr. Samson said that in addition to providing operations support, Platinum Equity's M&A team will continue working closely with BWAY in the capital markets and in pursuing attractive acquisition opportunities should they present themselves.

"We will work with the management team to evaluate and pursue attractive opportunities to grow and expand the business, both organically and through potential new acquisitions," said Mr. Samson.

Goldman, Sachs & Co., Barclays and Deutsche Bank Securities, Inc. acted as financial advisor to BWAY and Kirkland & Ellis LLP was the company's legal advisor. Latham & Watkins LLP acted as legal advisor to Platinum Equity. The bookrunners for debt financing were Bank of America Merrill Lynch, Deutsche Bank and Goldman Sachs.

About BWAY Corporation

BWAY Parent Company, Inc., through its primary operating subsidiary, BWAY Corporation is a leading North American supplier of general line rigid containers. The Company operates 22 plants throughout the United States and Canada serving industry leading customers on a national basis. 

Cautionary Note Regarding Forward-Looking Statements

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these statements. Forward-looking statements include information concerning our liquidity and our possible or assumed future results of operations, including descriptions of our business strategies. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will," "may" or similar expressions. 

These statements are based on certain assumptions that we have made in light of our experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate in these circumstances. As you read and consider this document, you should understand that these statements are not guarantees of performance or results. Many factors could affect our actual performance and results and could cause actual results to differ materially from those expressed in the forward-looking statements. Please refer to our filings with the United States Securities and Exchange Commission, for a discussion of other factors that may affect future performance or results. 

In light of these risks, uncertainties and assumptions, the forward-looking statements contained in this document might not prove to be accurate and you should not place undue reliance upon them. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE BWAY Holding Company




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