Sealed Air Corporation’s $510 Million Acquisition of Automated Packaging Systems


Goldman Sachs & Co. LLC served as exclusive financial advisor and K&L Gates LLP acted as legal advisor to Sealed Air.

Sealed Air Corporation executed the acquisition of Automated Packaging Systems, Inc., a manufacturer of automated bagging systems, for a purchase price of $510 million on a cash and debt free basis.

Sealed Air Corporation (NYSE: SEE) is a global provider of fulfillment and packaging solutions.

Sealed Air intends to use cash on hand and credit facilities to finance the transaction. The transaction is expected to close early in the third quarter of 2019, subject to applicable regulatory reviews and customary closing conditions.

The acquisition will expand and complement Sealed Air’s protective packaging solutions, supply chain, cross-selling opportunities and engineering, automation, and sustainability capabilities. The new company will employ more than 16,000 personnel and serve customers in 123 countries.

K&L Gates team was led by corporate partners Kevin Stichter (Picture), John Blair and Britt Doolittle (Charlotte) with help from partners Rikki Sapolich-Krol (employee benefits, San Francisco), Jared Mobley (tax, Charlotte) and Emily Reynolds (real estate, Charlotte) and corporate associates Hillary Dawe and Morgan Mayes (Charlotte) along with additional partners and associates in 13 offices, including four international offices.

Involved fees earner: John Blair – K&L Gates; Hillary Dawe – K&L Gates; Brittany Doolittle – K&L Gates; Morgan Mayes – K&L Gates; Jared Mobley – K&L Gates; Emily Reynolds – K&L Gates; Rikki Sapolich-Krol – K&L Gates; Kevin Stichter – K&L Gates;

Law Firms: K&L Gates;

Clients: Sealed Air Corporation;

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Author: Ambrogio Visconti