Global alternative asset manager The Carlyle Group has completed the acquisition of ITW’s Industrial Packaging Group, renamed Signode Industrial Group, for USD3.2 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,” says 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, says: “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.”
