SCA agrees to sell North American packaing operations
Jan. 23, 2007 - SCA today has signed an agreement for the sale of its North American packaging operations to the private equity firm Metalmark Capital for US$400 million.
The purchase price will be paid in cash, SCA said.
The N.A. packaging operations include protective packaging, consumer packaging and temperature-assurance packaging solutions, and have annual sales of about $430 million.
The businesses account for approximately 10% of SCA's total sales within its Packaging business area, the company said.
SCA's North American operations employs some 2,100 people.
The deal is expected to close during the first quarter of 2007 upon the approval of regulatory authorities.
About Metalmark Capital
Metalmark Capital is a private equity firm established by the principals of Morgan Stanley Capital Partners (MSCP). Since 1986, the Metalmark Capital and MSCP funds have invested US$7 billion of equity capital in over 100 companies in a broad range of industries, including their focus sectors of industrials, healthcare, financial services and natural resources. For more information on Metalmark Capital, please visit www.metalmarkcapital.com