Myers Industries completes US$157 million acquisition of Scepter Manufacturing, LLC and Eco One Leasing, LLC and all of the assets of Scepter Corporation

Date Closed: 7/02/2014

Value: US$157 million

On July 2, 2014, Myers Industries, Inc. (Myers) completed the acquisition of substantially all of the assets of Scepter Corporation (Scepter). Scepter employs 350 employees and has manufacturing facilities in Toronto, Canada.  In a related transaction, Myers also completed the acquisition of Scepter Manufacturing, LLC, which has manufacturing facilities in Miami, Oklahoma, and Eco One Leasing, LLC, each from a subsidiary of Scepter. The final aggregate purchase price was US$157 million for these transactions. Other terms of the agreements were not disclosed.

Scepter, headquartered in Toronto, Ontario, is a producer of portable marine fuel containers, portable fuel and water containers and accessories, ammunition containers, storage totes and environmental bins.

Myers Industries, headquartered in Akron, Ohio, is a manufacturer of polymer products for industrial, agricultural, automotive, commercial, and consumer markets.

BLG represented Scepter and its affiliates, with a team led by Anthony Milazzo that included Jim Elder, James Szumski, Adrian Liu (corporate), Evelyn Goldfarb (real estate), Danny Lang (tax), Rick Coburn (environmental), Christine Pallotta (intellectual property), Sonia Mak (pension) and Rob Weir (labour and employment).