A Canadian-based aluminum company has decided they are, in fact, down with OTPP.

Teachers’ Private Capital, the investment arm of the Ontario Teachers’ Pension Plan and Stonebridge Partners, a New York-based PE firm that makes manufacturing plays, will buy Exal Group, a Toronto-based maker of aluminum containers.

Terms of the deal were not disclosed and calls seeking comment were not acknowledged by press time.

Erol Uzumeri, senior vice president of Teachers’ Private Capital, who worked on the deal, called the deal an “important state” in Exal’s evolution and said its new investors will work “with management to continue to build the company.”

Teachers' Private Capital investments include: Aquilex Corporation, GCAN Insurance, Maple Leaf Sports & Entertainment, Serta Inc. and Simmons Bedding Company, among others.

Among Stonebridge’s investments are American Dryer Corp., Alpha Packaging, Durcon Laboratory Tops, Boyd Corp, USA Wireless and BondCote Corp. While none of its portfolio companies are specifically set in the aluminum business, Exal Group nevertheless presents its NY PE partner with some synergistic opportunities.

The packaging and industrials space has seen more PE investors in recent weeks. BWAY Holding Corp., the maker of plastic and metal packaging, was sold last week to Madison Dearborn Partners in a $915 million deal. Also, Castle Harlan bought Pretium Packaging and PVC Container Corp. from Kirtland Capital for $200 million earlier this year.

Industrials Manufacturing industry