Harris Williams & Co. Advises Liqui-Box Corporation on its Sale to Olympus Partners
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Liqui-Box Corporation (Liqui-Box) to Olympus Partners (Olympus). Liqui-Box is a leading provider of liquid packaging solutions. Harris Williams & Co. served as the exclusive financial advisor to Liqui-Box, a portfolio company of The Sterling Group (Sterling). The transaction was led by Patrick McNulty, Darwin Olympia and Brad Morrison of Harris Williams & Co.’s Industrials Group and Hiter Harris and Graham Gillam of the firm’s Richmond office.
“It has been a privilege working with the Liqui-Box management team. Through their hard work and dedication, they have built an incredible packaging platform that is well-positioned for accelerated growth. The company’s vision, customer focus and commitment to excellence will only strengthen its market leadership and we look forward to following their continued success,” said Patrick McNulty, a managing director in Harris Williams & Co.’s Industrials Group.
“With its leading position in the liquid packaging industry and Olympus’ expertise in the sector, Liqui-Box is poised to build on the impressive growth Sterling and management delivered during their partnership,” said Darwin Olympia, a director in Harris Williams & Co.’s Industrials Group.
Liqui-Box is a leading global player in the bag-in-box industry. The company designs and supplies liquid packaging systems to meet filling and dispensing needs across numerous end markets, including dairy, beverage, food and wine.
Founded in 1982, Sterling is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $500 million. Sterling has sponsored the buyout of 46 platform companies and numerous add-on acquisitions for a total transaction value of over $10 billion. Currently, Sterling has over $2.4 billion of assets under management. Current portfolio companies include CST Industries, Universal Fiber Systems, Express, Saxco International, Dexter Axle, Safe Fleet, Specified Air Solutions, American Bath Group and ProcessBarron.
Founded in 1988, Olympus is a private equity firm focused on providing equity capital for management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries, including restaurants, consumer products, healthcare services, financial services and business services. Olympus manages in excess of $5.5 billion primarily on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s Industrials Group has experience across a variety of sectors, including packaging; advanced manufacturing; aggregates, metals, and mining; building products; chemicals and specialty materials; and industrial technology. For more information on the firm’s Industrials Group and other recent transactions, visit the Industrials Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.