Buyout groups circle Trivium Packaging auction

Owners Ontario Teachers’ Pension Plan (OTPP) and Ardagh distributed marketing materials to prospective buyers in March, according to the sources.

Trivium, which is based in the Netherlands, is being marketed off EBITDA of around USD 550m (EUR 509m), Mergermarket reported in March. The company specializes in the production of metal containers primarily for use in the food and aerosols markets.

One of the sources said that financial sponsors will be required to find ways to demonstrate returns outside of operational improvements, pointing to the strength of the current management team and the company's reliable performance in recent years. Trivium is likely to be pitched as a cash-flow story, another of the sources added.

This news service previously reported that Trivium’s sale was likely to draw parallels with the sale of Crown Holdings’ European food can business last year, with the same universe of buyers expected to show interest in the company. KPS Capital Partners acquired an 80% stake in the Crown business for approximately USD 2.7bn (EUR 2.25bn) in April 2021.

Trivium confirmed in March that its owners OTPP and Ardagh had initiated a process to sell the business after Mergermarket reported late last year that the company was being prepared for an auction. Citi and Evercore are advising the sellers on the sale effort.

OTTP and Advent declined to comment. Trivium, Ardagh, Onex, Lone Star and Platinum Equity did not respond to requests for comment.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Industrials
• Benelux
• Advent International
• Ontario Teachers' Private Capital
• Platinum Equity
• Onex Partners
• Lone Star Funds
• Citigroup