OTPP, Canyon Capital, PSP invest in SCI PH, parent of BWAY and Mauser
Stone Canyon Industries LLC said Dec. 27 that it has recapped its subsidiary SCI PH Inc, parent of BWAY and Mauser, and sold a chunk of the company to new minority investors Ontario Teachers' Pension Plan, Canyon Capital Advisors, the Public Sector Pension Investment Board and Arcadia Investment Partners LLC. The deal calls for issuing $850 million of series A preferred stock to Canyon Capital Advisors, PSP Investments and existing investors, as well as series B non-voting stock to OTPP, Arcadia and PSP. Proceeds from the offering will be used for general corporate purposes and making a distribution to existing equity holders. Stone Canyon acquired BWAY in 2016 from Platinum Equity for $2.4 billion. Stone Canyon this year then bought Mauser from Clayton, Dubilier & Rice for $2.3 billion.
