TricorBraun Holdings Inc. (St. Louis, MO) has been acquired by private equity firm AEA Investors LP (AEA; New York) from CHS Capital (CHS; Chicago). The company is one of the largest distributors of glass and rigid packaging in North America.
"I couldn't be more excited about this partnership," said Keith Strope, President and CEO of TricorBraun. "Culturally, philosophically and strategically, our two companies are very strongly aligned.”
He added, “We both believe that first and foremost relationships are what matter—personally and professionally. All good relationships rely on both parties bringing something that the other needs. Something new. Something different. Something that insures mutual growth. This partnership will not only bring success to everyone involved—partners, customers, suppliers and employees alike—I believe it will positively impact the entire rigid packaging industry. But as excited as I am about the future, I would be remiss if I didn't express how grateful I am to CHS and all the help and support they supplied to get us to this point."
Thomas Pryma, Partner at AEA said, "We believe TricorBraun is an excellent company operating in a highly attractive industry segment. They are well-positioned to make a significant impact in the rigid packaging market by continuing to offer their customers and supplier partners an impressive array of capabilities. We have enjoyed a long relationship with the TricorBraun leadership and are extremely excited to partner with them. We look forward to helping them continue their growth both organically and through strategic acquisitions.
David Hawkins, Partner at CHS said, "TricorBraun has always been the most innovative company in the rigid packaging industry. Their track record of strong growth and profitability is a testament to their leadership. Keith Strope and his team have built an impressive company. We're very proud of what we've accomplished with them and I know they will continue to be the industry leader."