Harris Williams Advises TricorBraun on its Pending Sale to Ares Management Corp. & Ontario Teachers’ Pension Plan Board
January 07 2021 - 11:16AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it is advising TricorBraun, a
portfolio company of AEA Investors LP (AEA), on its pending sale to
funds managed by Ares Management Corporation’s Private Equity Group
(Ares) and Ontario Teachers’ Pension Plan Board (Ontario
Teachers’). TricorBraun is North America’s largest primary
packaging distributor and one of the largest providers of packaging
in the world. The transaction is being led by Bob Baltimore, Graham
Gillam and Bill Greven of the Harris Williams Specialty
Distribution Group and Brandt Carr and Dan Savage of the firm’s
Industrials Group.
“Having worked with TricorBraun previously, it has been
impressive to witness the company’s continued success under the
management team and AEA’s leadership,” said Bob Baltimore, a
managing director at Harris Williams. “We are proud to have worked
with AEA and management on another successful transaction and are
excited to watch the company build on its leadership position with
the support of its new partners.”
“Keith Strope, executive chairman of TricorBraun, Court
Carruthers, president and CEO of TricorBraun, and the rest of the
management team have fantastic new partners in Ares and Ontario
Teachers’, and we are excited to see what the future holds for the
company as the preeminent distribution platform in the packaging
sector,” said Graham Gillam, a director at Harris Williams. “We
continue to see strong private equity demand for market leading
distribution platforms.”
TricorBraun is North America’s largest primary packaging
distributor and one of the largest providers of packaging in the
world. The company serves consumer packaged goods companies, from
cutting-edge start-ups to the world’s most iconic brands, and is a
critical packaging provider for the essential personal care and
household cleaning, food and beverage, and healthcare/nutraceutical
industries. From rigid to flexible packaging, stock and custom
capabilities, and countless options of materials, industries, and
markets served, TricorBraun’s range of packaging solutions sets it
apart. Serving customers since 1902, TricorBraun has grown to $1.5
billion in annual sales, with more than 1,100 team members in 50
locations throughout North America, Europe and Asia.
AEA was founded in 1968 by the Rockefeller, Mellon and Harriman
family interests and S.G. Warburg & Co. as a private investment
vehicle for a select group of industrial family offices with
substantial assets. AEA has an extraordinary global network built
over many years which includes leading industrial families,
business executives and leaders; many of whom invest with AEA as
active individual investors (“Participants”) and/or join its
portfolio company boards or act in other advisory roles. Today,
AEA’s approximately 90 investment professionals operate globally
with offices in New York, Connecticut, London, Munich and Shanghai.
The firm manages funds that have over $15 billion of invested and
committed capital including the leveraged buyouts of middle market
companies and small business companies and mezzanine and senior
debt investments. AEA Private Equity invests across three sectors:
value added industrials, consumer and services.
Ares is a leading global alternative investment manager
operating integrated groups across Credit, Private Equity, Real
Estate and Strategic Initiatives. Ares’ investment groups
collaborate to deliver innovative investment solutions and
consistent, attractive investment returns for fund investors
throughout market cycles. As of September 30, 2020, Ares’ global
platform had approximately $179 billion of assets under management
with more than 1,400 employees operating across North America,
Europe and Asia Pacific.
Ontario Teachers’ is the administrator of Canada’s largest
single-profession pension plan, with $204.7 billion Canadian
dollars ($161.3 billion) in net assets, as at June 30, 2020. The
defined-benefit plan, which is fully funded as of January 1, 2020,
invests and administers the pensions of the province of Ontario's
329,000 active and retired teachers.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
Harris Williams’ Specialty Distribution Group has experience
across a variety of sectors, including automotive and heavy duty
aftermarket; building products; consumer; electrical and
communications; foodservice; healthcare; industrial; and
technology. For more information on the firm’s Specialty
Distribution Group, visit the Specialty Distribution Group’s
section of the Harris Williams’ website.
The Harris Williams Industrials Group has experience across a
variety of sectors, including advanced manufacturing; building
products; chemicals and specialty materials; industrial technology;
and packaging. For more information on the firm’s Industrials Group
and other recent transactions, visit the Industrials Group’s
section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com).
Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No.
DE321666994). Harris Williams is a trade name under which Harris
Williams LLC, Harris Williams & Co. Ltd and Harris Williams
& Co. Corporate Finance Advisors GmbH conduct business.
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version on businesswire.com: https://www.businesswire.com/news/home/20210107005756/en/
Julia Moore at media@harriswiliams.com
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