Raebarn Corp., a Sherman Oaks merchant banking firm, said it has formed a company with an investment partnership headed by Texas billionaire Robert M. Bass to buy Alvey Inc., a St. Louis company that makes systems to help efficiently stack cartons on pallets.
Frederick Ulrich, chairman of Raebarn, said the investors paid $22 million for the stock, which was held by James M. Schloeman. Ulrich said the group raised another $4 million to invest in the business.
Raebarn, a 2-year-old company, has made four acquisitions in the last 18 months totaling more than $280 million. The firm now controls companies with more than $500 million in annual sales.