LOS ANGELES, Oct. 24, 2018 (GLOBE NEWSWIRE) -- B. Riley FBR, Inc., a leading full service investment bank and wholly-owned subsidiary of B. Riley Financial, Inc., acted as the exclusive financial advisor to private equity firm Atlas Holdings LLC in its sale of Amaray’s U.S. business to Westfall Technik, Inc. (“Westfall”), a global holding company that provides highly productive plastics manufacturing solutions to the medical, packaging and consumer industries.
Amaray U.S. is the leading supplier of media packaging and a growing supplier to the consumer packaged goods, personal care, and healthcare markets with two plant operations in Pittsfield, MA and Elizabethtown, KY.
Jacob Hudson, Managing Partner of Atlas Holdings, commented on the transaction, “B. Riley FBR was critical in helping to find the best buyer for the business, allowing us to maximize value while providing a bright future for the employees, customers and other stakeholders of Amaray U.S.”
This marks a significant investment into the consumer packaging space for Westfall, which continues to execute its aggressive acquisition strategy. Amaray’s two injection molding facilities in Massachusetts and Kentucky provide significant additional capacity to support Westfall’s growth plans. The addition of the two facilities adds 285,000 square feet of manufacturing space and expands Westfall’s presence in the Northeast. The Kentucky facility is the first location in the Midwest for Westfall, which will be used to service a growing customer base in that region.
Willem Enthoven, Managing Director at B. Riley FBR commented: “B. Riley FBR was honored to represent Amaray in this transaction. We believe the transaction is a highly strategic combination that is well positioned to create significant value.”
Atlas Holdings will continue to own Amaray Europe as part of its ASG packaging business.
For more information, visit www.brileyfbr.com.
About B. Riley FBR, Inc.
B. Riley FBR, Inc. is a leading investment bank which provides corporate finance, research and sales and trading to corporate, institutional and high net worth individual clients. Investment banking services include initial, secondary and follow-on offerings, institutional private placements and merger and acquisitions advisory services, and corporate restructuring. The firm is nationally recognized for its highly ranked proprietary equity research.
About B. Riley Financial, Inc. (NASDAQ:RILY)
B. Riley Financial, through its subsidiaries, provides collaborative financial services and solutions tailored to fit the capital raising and financial advisory needs of public and private companies and high net worth individuals. The company operates through several wholly-owned subsidiaries, including B. Riley FBR, a full-service investment bank and institutional brokerage; Great American Group, a leading provider of asset disposition, appraisal, corporate advisory and valuation services; GlassRatner, a specialty financial advisory services and consulting firm; B. Riley Wealth Management, B. Riley Asset Management and B. Riley Alternatives, which offer investment management to institutional and high net worth investors; Great American Capital Partners, which originates and underwrites senior secured loans for asset-rich companies; and B. Riley Principal Investments, which invests in or acquires companies and assets with attractive return profiles.
Jo Anne McCusker
Source: B. Riley FBR, Inc.