Platinum Equity to Sell Multi-Color Corporation to CD&R
MCC merges with Fort Dearborn Company
LOS ANGELES, July 2, 2021 / PRNewswire / – Platinum Equity today announced the signing of a definitive agreement for the sale of Multi-Color Corporation (MCC), a global leader in labeling solutions, to subsidiaries of Clayton, Dubilier & Rice (“CD&R”). Financial terms of the transaction were not disclosed.
As part of the transaction, CD&R also announced the signing of a definitive agreement to acquire Fort Dearborn from Advent International and its intention to combine MCC and Fort Dearborn to create a global labeling solutions company in Canada. serving consumer packaged products companies around the world. The transactions are expected to be finalized by the end of 2021, subject to customary regulatory approvals and other conditions.
“We have had an exceptional partnership with Nigel and the MCC management team,” said Louis Samson, Platinum Equity Partner. “We have worked together to significantly transform the business and drive both organic and acquisition growth, which has led to substantial improvements in sales and results. The company integrates naturally with Fort Dearborn and both companies will benefit from the merger.
Platinum Equity acquired MCC in 2019 as part of a public-private transaction and combined it with WS Packaging, another US-based labeling company that the company acquired in 2018.
MCC is today one of the world’s largest producers of high quality, pressure sensitive, in-mold and thermal transfer labels and a major manufacturer of cut and stacked, roll fed, aluminum and with shrink sleeve. The company serves the world’s largest brands in four lines of business: food and beverage, wine and spirits, home and personal care, and hardware and specialty products.
“At MCC, we have continuously worked to invest in our people, processes and technology to strengthen our organization and become one of the world’s most reliable and innovative label manufacturing leaders,” said declared Nigel Vinecombe, CEO of MCC. “Platinum’s financial and operational support has been instrumental in our success. This combination with Fort Dearborn and the continued support of value-added investors provides the opportunity to continue to strengthen the business and provide top-notch service to our clients.
“Platinum has a lot of experience in creating value in the label and packaging industries and MCC is another great example,” said the CEO of Platinum Equity. Jason Price. “We appreciate all of the hard work that Nigel and everyone in the company have done over the years and wish the entire team every success.”
Platinum Equity previously owned BWAY (rigid containers), Contego (food, beverage and pharmaceutical packaging) and MacTac (pressure sensitive materials).
Earlier this week, MCC also announced that it has signed a definitive agreement to acquire Hexagon Holdings (“Hexagon”), a Auckland, New Zealandsupplier of high value premium labels. Financial terms of the transaction were not disclosed. Hexagon is a private group of companies producing self-adhesive labels, shrink sleeves, linerless packaging and VIP solutions for customers across Australia and New Zealand.
Latham & Watkins LLP and MinterEllison are legal counsel to MCC in connection with the acquisition of Hexagon.
Latham & Watkins LLP and Keating Muething & Klekamp PLL are legal advisors to Platinum Equity on the sale of MCC to CD&R.
About platinum stocks
Founded in 1995 by Tom Gorès, Platinum Equity is a global investment firm with more than $ 25 billion of assets under management and a wallet approximately 40 operating companies serving clients around the world. The company is currently investing Platinum Equity Capital Partners V, a 10 billion dollars global buyout fund, and Platinum Small Cap Equity Fund, a $ 1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and transactions – a branding strategy she calls M&A & O® – acquire and operate companies in a wide range of business markets including manufacturing, distribution, transportation and logistics, equipment rental, metals related services, media and entertainment, technology, telecommunications and other industries. Over the past 25 years, Platinum Equity has made over 300 acquisitions.
About Multi-Color Corporation
Cincinnati, Ohio, based in the United States, Multi-Color Corporation (MCC), established in 1916, is a leader in global label solutions supporting a number of the world’s largest brands, including leading producers of beverages, wines and spirits, food and dairy, personal care and beauty Home care and laundry, health care, durable and technical goods and automotive and chemicals. MCC serves national and international brand owners in the North, Central and South America, Europe, Africa, China, South East Asia, Australia and New Zealand with a full line of the latest labeling technologies in pressure sensitive, cut and stacked labels, packaging, aluminum, molding, shrink sleeves and heat transfer. MCC employs more than 9,000 associates in more than 70 label production operations around the world.
For more information on Multi-Color Corporation, please visit http://www.mcclabel.com.
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SOURCE Platinum Shares