One Madison Corporation’s $1.089 Billion Combination with Ranpak

Davis Polk is advising One Madison Corporation on its acquisition of Ranpak Corporation from affiliates of Rhône Capital

The transaction will introduce Ranpak as a publicly listed company with an anticipated enterprise value of approximately $1.089 billion. The transaction is expected to close in spring 2019, subject to approval by One Madison Corporation’s shareholders as well as regulatory approvals and other customary closing conditions.

One Madison Corporation is a special purpose acquisition company, launched in 2018, for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Founded in 1972, Ranpak’s goal was to create the first environmentally responsible system to effectively protect products during shipment.

The Davis Polk corporate team includes partner Lee Hochbaum (Picture) and associates John B. Weinstein and Brian Russell. Partner David H. Schnabel and associate Anne E. McGinnis are providing tax advice. Partner Sartaj Gill and associate Michael Fan are providing credit advice. Partner Veronica M. Wissel is providing executive compensation advice. Partner John B. Meade and associate Cameron C. Lewis are providing capital markets advice.

Involved fees earner: Michael Fan – Davis Polk & Wardwell; Sartaj Gill – Davis Polk & Wardwell; Lee Hochbaum – Davis Polk & Wardwell; Cameron Lewis – Davis Polk & Wardwell; Anne McGinnis – Davis Polk & Wardwell; John Meade – Davis Polk & Wardwell; Brian Russell – Davis Polk & Wardwell; David Schnabel – Davis Polk & Wardwell; John Weinstein – Davis Polk & Wardwell; Veronica Wissel – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: One Madison Corp.;