Novvia Group Acquires Rahway Steel Drum Company
St. Louis, M.O. – May 31, 2023
Global rigid container and life sciences packaging distributor, Novvia Group (“Novvia”), has acquired Rahway Steel Drum Company (“Rahway”), a New Jersey based distributor of drums, pails, IBCs, and other rigid packaging solutions. Financial terms of the private transaction were not disclosed. Novvia is backed by Kelso & Company (“Kelso”).
For over 70 years, Rahway has been a reliable supplier of rigid packaging products to the Northeast. Rahway operates out of a facility located in Cranbury, New Jersey and maintains its own fleet of tractors and trailers, enabling just-in-time delivery and high-quality customer service. Rahway offers customers operating in a variety of industries a breadth of rigid packaging products, including metal and plastic drums and pails, IBCs, reconditioned containers, and other rigid packaging products.
“We are excited to join Novvia, who will support Rahway in accelerating our growth and delivering additional value to our customers,” said Rahway owners Mike and Tony Foglia. “We are proud of Rahway’s long and rich history and look forward to the significant future opportunities made possible by this partnership.”
The transaction represents Novvia’s expansion into the Northeast. “The acquisition of Rahway is an important step for Novvia, in that it delivers on our original premise of being the only industrial packaging distributor with complete coverage of the U.S. and Canada,” said Novvia Executive Chairman Ken Roessler. We are grateful that Mike and Tony Foglia selected Novvia as their partner, and look forward to continuing their customer-first legacy.”
For more information about Rahway, please visit www.rahwaysteeldrum.com
About Novvia Group
Novvia Group is a leader in high-quality packaging solutions and customized services with domestic and international customers across myriad industries. Through its family of dynamic companies, comprised of Inmark, C.L. Smith, Silver Spur, Container Supply, Fox Valley, Rhino, Novvia Canada, Southern Container, Duval Container, Rios, Auberst, Innovative Container, and Rahway, Novvia has set a new industry standard as a national stocking distributor with a comprehensive suite of containers and supplies, trusted local relationships and 40+ years of best-in-class customer service. For more information, please visit www.novviagroup.com.
Kelso is one of the oldest and most established firms specializing in private equity investing. Since 1980, Kelso has invested approximately $19 billion of equity capital in 139 transactions. Kelso was founded by the inventor of the Employee Stock Ownership Plan (ESOP) and, as a result, the principles of partnership and alignment of interest serve as the foundation of the firm’s investment philosophy. Kelso benefits from a successful investment track record, deep sector expertise, a long-tenured and stable investing team, and a reputation as a preferred partner to management teams and corporate partners. Kelso has significant experience investing in and supporting high-growth distribution and packaging platforms. The firm is based in New York, NY. For more information, please visit www.kelso.com.