Platinum Equity eyes up to $2bn from swift BWAY exit


news_paints2_lrgUS buyout house Platinum Equity is reportedly eyeing up to $2bn from a sale of rigid container maker BWAY after less than two years of ownership.

Platinum picked up the business from fellow private equity firm Madison Dearborn in October 2012 in a $1.24bn deal, and has met with banks to discuss a sale according to Reuters.

It cited people familiar with the matter, who said the process of finding a buyer was yet to begin.

The company makes containers ranging from paint tins and ammunition boxes to packaging for food and household goods.

BWAY had an EBITDA of just over $190m last year and net sales of $1.4bn.

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