The Carlyle Group Completes Acquisition of Signode Industrial Group from ITW
May 01 2014 - 4:15PM
Business Wire
Global alternative asset manager The Carlyle Group L.P. (NASDAQ:
CG), announced today it has completed the acquisition of ITW’s
Industrial Packaging Group, renamed Signode Industrial Group, for
$3.2 billion. Signode Industrial Group is a leading global supplier
of industrial packaging consumables, tools and equipment. The
company’s products secure and protect industrial and consumer goods
during manufacturing, storage and transit via commercial trucks,
railcars, ocean ships or airfreight. As a leading company in the
industrial packaging industry, Signode Industrial Group will build
on a foundation of supporting brands with more than a century of
outstanding performance.
“We are excited to invest in Signode Industrial Group and
believe its strong market position, quality brands and global
footprint will enable the company to capitalize on opportunities
around the world in both mature and emerging markets. We look
forward to our partnership with the company’s management team and
employees,” said Brian Bernasek, Managing Director of The Carlyle
Group. The equity investment in Signode Industrial Group was funded
from Carlyle Partners VI, Carlyle’s US buyout fund.
Mark Burgess, the CEO of Signode Industrial Group, added, “This
is a powerful new chapter for Signode Industrial Group. Our brands
generate unparalleled brand recognition and respect around the
world. We have a global scale with 88 manufacturing locations
across six continents. Now as an independent company supported by
Carlyle’s industrial focus and global network, we are well
positioned for terrific growth and success.”
About Signode Industrial Group
Signode Industrial Group (SIG) is a leading manufacturer of
strap, stretch, and protective packaging consumables, tools, and
equipment. The company’s products are used to contain, unitize, and
protect goods during manufacturing, transport, and warehousing. Its
products are sold around the world under a broad array of
well-known brand names, including Signode, Strapex, Orgapack,
Fleetwood, Mima, Angleboard, Haloila, Muller, Multi-Wall and
Shippers. Signode Industrial Group employs nearly 7,000 people
across six continents.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset
manager with $199 billion of assets under management across 120
funds and 133 fund of funds vehicles as of March 31, 2014.
Carlyle's purpose is to invest wisely and create value on behalf of
its investors, many of whom are public pensions. Carlyle invests
across four segments – Corporate Private Equity, Real Assets,
Global Market Strategies and Solutions – in Africa, Asia,
Australia, Europe, the Middle East, North America and South
America. Carlyle has expertise in various industries, including:
aerospace, defense & government services, consumer &
retail, energy, financial services, healthcare, industrial, real
estate, technology & business services, telecommunications
& media and transportation. The Carlyle Group employs more than
1,600 people in 38 offices across six continents.
Web: www.carlyle.comVideos: www.youtube.com/onecarlyleTweets:
www.twitter.com/onecarlylePodcasts:
www.carlyle.com/about-carlyle/market-commentary
Signode:Ron Kropp, CFO+1
847-657-4128rkropp@signode.comorThe Carlyle Group:Liz Gill+1
202-729-5385Elizabeth.gill@carlyle.com
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