Mauser Group, a CD&R-backed global supplier of industrial rigid packaging products, announced on Tuesday morning that it has agreed to a $2.3 billion buyout by Stone Canyon Industries, one day ahead of the expected pricing of its IPO. It had filed to raise $265 million; at the midpoint of its proposed IPO range of $20 to $22, its market cap would have been $1.0 billion with an enterprise value of $2.1 billion.
The Amsterdam, Netherlands-based company was founded in 1896 and booked $1.5 billion in sales for the 12 months ended September 30, 2016. It had planned to list on the NYSE under the symbol MSR. BofA Merrill Lynch, Citi, Credit Suisse, Baird, Deutsche Bank and Jefferies were set to be the joint bookrunners on the deal.
