Mergers and Acquisitions in the Flexible Packaging Industry - (PPT)

摘要

A Brief Anecdotal History in Packaging M&A 2008 - 2011: 2009 - Early 2010 - "Crickets" - No meaningful deal activity - 2 deals closed: Perfect match, No financing issues, 5x EBITDA; Specialty consumer packaging company #2 sold to PE firm for 6x EBITDA. 2010 - 2011 - Recovery begins - 15 deals closed from early 2010 through April 2011 - Aggressive financing from banks and finance companies - Flexibles, labels, films, corrugated, folding carton, industrial - 5.5x - 7.5x EBITDA valuations. Ongoing Consumer Packaging Deal - June 2011 - Strong interest from strategics and private equity buyers, $28M sales, $7M EBITDA - 20 IOI's, 6 LOI's, 7.2x - Winning bidder 7.2x EBITDA - 4.25x financing from multiple sources.