Harris Williams Advises TricorBraun on its Pending Sale to Ares Management Corporation and Ontario Teachers’ Pension Plan Board

Rhea-AI Summary

Harris Williams is advising TricorBraun, the largest primary packaging distributor in North America, on its upcoming sale to funds managed by Ares Management and Ontario Teachers' Pension Plan. TricorBraun has seen success under its management and has grown to $1.5 billion in annual sales, serving essential industries like personal care and food. The advisory team includes leaders from Harris Williams' Specialty Distribution and Industrials Groups, reflecting strong private equity interest in market-leading distribution platforms.

Positive

• TricorBraun has $1.5 billion in annual sales, indicating strong market performance.
• The company is a major player in essential industries, suggesting stable revenue streams.

Negative

• None.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210107005756/en/

FAQ

What is the significance of the TricorBraun sale to Ares and Ontario Teachers'?

The sale reflects strong private equity interest in market-leading distribution platforms, highlighting TricorBraun's success and market position.

How much does TricorBraun make in annual sales?

TricorBraun generates approximately $1.5 billion in annual sales.

Who is advising TricorBraun on its sale?

Harris Williams is advising TricorBraun on its impending sale.

What industries does TricorBraun serve?

TricorBraun serves essential industries including personal care, food and beverage, and healthcare.

Who are the new partners of TricorBraun?

The new partners of TricorBraun are funds managed by Ares Management and Ontario Teachers' Pension Plan.