Myers Industries, an international manufacturer of horticultural containers based in Akron, Ohio, will not merge with GS Capital Partners after nearly a year of negotiations.
GS Capital Partners is the private-equity vehicle of Goldman Sachs Group, which offered to buy Myers for more than $1 billion last April. Goldman then paid a $35 million non-refundable fee in December for the right to evaluate conditions in the industry, and it notified Myers this month that it no longer intended to proceed with the acquisition.
Myers is a 75-year-old manufacturer of brands like Dillen Products, ITML, Listo Products and Pro Cal. It also makes polymer products for the automotive and industrial markets.