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Mauser Group officially withdraws $265 million IPO; acquired by Stone Canyon for $2.3 billion

February 8, 2017
MSR

Mauser Group, a CD&R-backed global supplier of industrial rigid packaging products, withdrew its plans for an initial public offering on Wednesday. Mauser agreed to be acquired by PE firm Stone Canyon, via its North American industrial packaging subsidiary BWAY, for $2.3 billion one day ahead of the expected pricing of its IPO. It had filed to raise $265 million by offering 12.6 million shares at a price range of $20 to $22.

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.