Harris Williams & Co., a middle market investment bank, has announced the sale of Ranpak Corp., a manufacturer of protective paper packaging systems and a portfolio company of Odyssey Investment Partners, to affiliate funds of Rhône Capital. The transaction closed on October 1, 2014.
“Odyssey and Ranpak have built an exceptional platform with global scale, strong returns on capital, and resiliency across economic cycles,” said Patrick McNulty, managing director at Harris Williams & Co. “It was an absolute pleasure working with the management team, and we look forward to watching the company’s continued success.”
“Pairing Ranpak’s industry-leading product suite and focus on innovation with Rhône’s international resources and capabilities offers exciting new opportunities for the company,” said Tim Webb, director at Harris Williams & Co.
Ranpak, currently with 400 employees, was founded in 1972 with the goal to create the first environmentally responsible packaging material to effectively cushion and protect products during shipment. Since then, the company has become an international leader in the protective packaging industry.
Odyssey, with offices in New York and Los Angeles, is a leading middle market private equity firm with approximately $4.0 billion under management. Odyssey primarily makes majority, controlled investments typically in established middle market companies in a variety of industries.
Rhône, established in 1996, is a global private equity firm with a focus on investments in market leading businesses with a pan-European or transatlantic presence and expansion prospects. Rhône’s investment philosophy includes the development of strong, strategic partnerships with the companies in which it invests. Rhône has offices in London and New York and currently holds investments in a diversified portfolio of companies including investments in the business services, chemicals, consumer products, food, industrial, materials, mining, and shipping industries.
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