Middle market investment bank Harris Williams & Co has advised GSO Capital Partners pin the sale of its portfolio company Stolle Machinery, LLC to strategic buyer Toyo Seikan Kaisha, Ltd. (Toyo Seikan; TSE:5901), for USD775 million.
The transaction closed on 3 November, 2011 and was led by Mike Hogan, Chris Williams, John Arendale, Jershon Jones and Karl Kirkeby from the firm’s Richmond office. Harris Williams & Co. acted as the advisor to Stolle, and was also the advisor to Stolle in 2008 in its sale to GSO.
“Stolle is the market and technology leader in the can-making equipment industry and represents a unique platform with great prospects for continued growth,” says Mike Hogan, a managing director at Harris Williams & Co. “The company has successfully executed on its strategic plan to grow its international business in high-growth emerging markets, expand its aftermarket parts and services business by closely partnering with its customers, and continue to build upon its track record of impressive growth through both organic initiatives and strategic acquisitions.”
“We continue to see a high level of activity from strategic buyers, and in particular have seen an increase in the number of middle market companies acquired by Asian buyers,” says Chris Williams, a managing director and co-founder of Harris Williams & Co. “Stolle is Harris Williams & Co.’s third sale to a Japanese buyer in just over six months.”
