MSD Partners has acquired plastic container manufacturer Ring Container Technologies. The deal follows up MSD's investment in pool equipment manufacturer Hayward Industries. The firm is committing a combined $650 million of equity in both companies. Terms of the Ring acquisition were not disclosed.
Founded in 1968 and based in Oakland, Tennessee, Ring produces plastic bottles and containers mainly for the food and beverage and consumer sectors. The target operates 17 manufacturing facilities across North America and Europe. Ring chairman Carl Ring calls MSD the "best possible owner to move our company forward."
MSD Partners, which was offices in New York and London, was formed in 2009 as the investment arm of MSD Capital. The latter manages the assets of Michael Dell and his family.
In other packaging deals, Dade Paper & Bag Co.’s agreed to merge with Imperial Bag & Paper Co. LLC; Sabert Corp. is buying of Mullinix Packages Inc. from Mason Wells; and Pritzker-backed ProAmpac purchases PolyFirst Packaging.
BMO Capital Markets and Glankler Brown advised Ring. Dechert LLP represented MSD.