October 31, 2019
Stonebridge Partners is pleased to announce that its portfolio company Exal Corporation, a leading producer of shaped aluminum containers, has combined with the Food & Specialty Metal Packaging division of Ardagh Group to form Trivium Packaging, a global leader in metal packaging.
The combination will create one of the largest metal packaging companies in the world, bringing together Ardagh’s leading position in tin-plate steel packaging with Exal’s leadership in aluminum packaging. Trivium will be headquartered in the Netherlands and will operate 57 production facilities across Europe and the Americas and employ nearly 8,000 people. On a combined basis, the company generated revenues and adjusted EBITDA of $2.7 billion and $469 million, respectively, for the last twelve months ended March 31, 2019.
The role of chairman of Trivium will be assumed by Paul Coulson, the current chairman and CEO of Ardagh. Michael Mapes, Exal’s present CEO, will serve as Trivium’s CEO and will lead an experienced team coming from both previous businesses. Ardagh Group will hold a 43% stake in Trivium; the remaining 57% will be controlled by Ontario Teachers’ Pension Plan, Stonebridge Partners, and other co-investors.