Harris Williams & Co. Advises Ranpak Corp. on its Sale to Rh^one Capital
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Ranpak Corp. (Ranpak), a manufacturer of protective paper packaging systems and a portfolio company of Odyssey Investment Partners, LLC (Odyssey), to affiliate funds of Rh^one Capital, LLC (Rh^one). The transaction, which closed on October 1, 2014, was led by Patrick McNulty, Tim Webb, Eric Logue, John Lautemann, and Carl Hardie of Harris Williams & Co.’s Industrials Group and Ned Valentine of the firm’s Richmond office.
“Odyssey and Ranpak have built an exceptional platform with global scale, strong returns on capital, and resiliency across economic cycles,” said Patrick McNulty, managing director at Harris Williams & Co. “It was an absolute pleasure working with the management team, and we look forward to watching the company’s continued success.”
“Pairing Ranpak’s industry-leading product suite and focus on innovation with Rh^one’s international resources and capabilities offers exciting new opportunities for the company,” said Tim Webb, director at Harris Williams & Co.
Ranpak was founded in 1972 with the goal to create the first environmentally responsible packaging material to effectively cushion and protect products during shipment. Since then, the company has become an international leader in the protective packaging industry.
Odyssey, with offices in New York and Los Angeles, is a leading middle market private equity firm with approximately $4.0 billion under management. Odyssey primarily makes majority, controlled investments typically in established middle market companies in a variety of industries.
Rh^one, established in 1996, is a global private equity firm with a focus on investments in market leading businesses with a pan-European or transatlantic presence and expansion prospects. Rh^one’s investment philosophy includes the development of strong, strategic partnerships with the companies in which it invests. Rh^one has offices in London and New York and currently holds investments in a diversified portfolio of companies including investments in the business services, chemicals, consumer products, food, industrial, materials, mining, and shipping industries.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC) , is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise, and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements, and capital markets advisory services.
Harris Williams & Co.’s Industrials Group has experience across a variety of sectors, including advanced manufacturing; capital goods; chemicals; industrial and environmental services; flow control; metals; natural resources and mining; paper, plastics and packaging; power connectivity and control; and test and measurement. For more information on the firm’s Industrials Group and other recent transactions, visit the Industrials Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.
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