10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q/A

(Amendment No. 1)

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2015

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

Commission File Number: 001-37598

Multi Packaging Solutions International Limited

(Exact Name of Registrant as Specified in Its Charter)

Bermuda	98-1249740
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification Number)

Clarendon House, 2 Church Street Hamilton, Bermuda	HM 11
(Address of Principal Executive Offices)	(Zip Code)

(441) 295-5950

(Registrant’s Telephone Number, Including Area Code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirement for the past 90 days. Yes    x     No    ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes    x     No    ¨

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definition of “accelerated filer” and “large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	x  (Do not check if a smaller reporting company)	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes    ¨ No    x

As of November 12, 2015, there were 77,439,432 common shares, $1.00 par value per share, outstanding.

Explanatory Note

Multi Packaging Solutions International Limited (the “Company” or “we”) is filing this Amendment No. 1 (the “Amendment”) to its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2015, filed on November 13, 2015 (the “Original Filing”), to provide the interactive data files required by Item 601(b)(101) of Regulation S-K and Rule 405 of Regulation S-T.

No changes have been made to the Original Filing other than the inclusion of the interactive data files. This Amendment should be read in conjunction with the Original Filing. This Amendment speaks as of the date of the Original Filing, does not reflect events that may have occurred after the date of the Original Filing and does not modify or update in any way the disclosures made in the Original Filing.

ITEM 6.    Exhibits.

Exhibit     No.	Description
3.1*	Amendment to the Memorandum of Association of Multi Packaging Solutions International Limited
3.2*	Amended and Restated Bye-laws of Multi Packaging Solutions International Limited
4.1*	Shareholders Agreement among Mustang Investment Holdings L.P., CEP III Chase S.à r.l. and Multi Packaging Solutions International Limited, dated October 21, 2015
31.1	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32	Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

* Previously filed.

SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	MULTI PACKAGING SOLUTIONS INTERNATIONAL LIMITED
Date: December 11, 2015	By:	/s/ Marc Shore
		Marc Shore
		Chairman of the Board and Chief Executive Officer (Principal Executive Officer)
Date: December 11, 2015	By:	/s/ William H. Hogan
		William H. Hogan
		Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)

EX-31.1

Exhibit 31.1

FORM OF CERTIFICATION

PURSUANT TO RULE 13a-14 AND 15d-14

UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

CERTIFICATIONS

I, Marc Shore, certify that:

1. I have reviewed this quarterly report on Form 10-Q/A of Multi Packaging Solutions International Limited;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the issuer’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: December 11, 2015

/s/ Marc Shore

Name: Marc Shore

Title:   Chairman of the Board and Chief Executive

            Officer (Principal Executive Officer)

EX-31.2

Exhibit 31.2

FORM OF CERTIFICATION

PURSUANT TO RULE 13a-14 AND 15d-14

UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

CERTIFICATIONS

I, William H. Hogan, certify that:

1. I have reviewed this quarterly report on Form 10-Q/A of Multi Packaging Solutions International Limited;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant is made known to me by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: December 11, 2015

/s/ William H. Hogan
Name:	William H. Hogan
Title:	Executive Vice President and Chief Financial Officer
	(Principal Financial and Accounting Officer)

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Multi Packaging Solutions International Limited. (the “Company”) on Form 10-Q/A for the quarter ended September 30, 2015 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned, in the capacities and on the dates indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operation of the Company.

Date: December 11, 2015

/s/ Marc Shore
Name:	Marc Shore
Title:	Chairman of the Board and Chief Executive Officer (Principal Executive Officer)

Date: December 11, 2015

/s/ William H. Hogan
Name:	William H. Hogan
Title:	Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)

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Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2015 USD ($) Customer shares	Sep. 30, 2014 USD ($) Customer shares	Jun. 30, 2015 USD ($) Customer
Summary Of Significant Accounting Policies [Line Items]
Foreign currency gains (loss)	$ (2,877)	$ 4,798
Restricted cash	1,994		$ 1,985
Allowance for doubtful accounts receivable	2,195		2,932
Amortization of deferred financing costs	223	201
Available-for-sale Securities	236		$ 253
Change in fair value of Derivative instruments	$ (755)	$ (1,626)
Stock options | shares	0	0
Credit Concentration Risk | Accounts receivable
Summary Of Significant Accounting Policies [Line Items]
Number of customers accounted for more than 10% | Customer	0		0
Customer Concentration Risk | Net sales
Summary Of Significant Accounting Policies [Line Items]
Number of customers accounted for more than 10% | Customer	0	0
Interest Rate Swap
Summary Of Significant Accounting Policies [Line Items]
Change in fair value of Derivative instruments	$ 26	$ 2,538
Forward Foreign Exchange Contracts
Summary Of Significant Accounting Policies [Line Items]
Change in fair value of Derivative instruments	$ 12	$ (317)

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Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plans, contributions to the plan	$ 2,147	$ 1,878

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Fair Value of Financial Instruments - Additional Information (Detail) $ in Thousands	3 Months Ended
	Sep. 30, 2015 USD ($) Derivative	Jun. 30, 2015 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bonds payable due month and year	2021-08
Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt carrying value	$ 196,477	$ 196,327
Bonds | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt fair value	$ 209,000	$ 204,000
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of derivative instruments | Derivative	2
derivative instruments, maturity date	2017-12
Interest rate swaps One
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
derivative instruments, notional amount	$ 175,902
derivative instruments, fixed interest rate	1.1649%
derivative instruments, fair value	$ 251
Interest rate swaps Two
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
derivative instruments, notional amount	$ 150,360
derivative instruments, fixed interest rate	1.0139%
derivative instruments, fair value	$ 2,763

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Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Pension Plan
Components of Net Periodic Benefit Cost
Service cost	$ 898	$ 898
Interest cost	6,048	6,405
Expected return on plan assets	(6,806)	(7,342)
Net Periodic (Benefit) Cost	140	$ (39)
Other Post-Employment Obligations
Components of Net Periodic Benefit Cost
Service cost	18
Interest cost	23
Expected return on plan assets	(4)
Net Periodic (Benefit) Cost	$ 37

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Summary of Changes in Carrying Value of Goodwill by Reportable Segment (Detail) $ in Thousands	3 Months Ended
	Sep. 30, 2015 USD ($)
Goodwill [Line Items]
Balance at June 30, 2015	$ 474,901
Acquisition of BluePrint	965
Impact of foreign exchange	(3,932)
Balance at September 30, 2015	471,934
North America
Goodwill [Line Items]
Balance at June 30, 2015	250,784
Balance at September 30, 2015	250,784
Europe
Goodwill [Line Items]
Balance at June 30, 2015	223,275
Acquisition of BluePrint	965
Impact of foreign exchange	(3,928)
Balance at September 30, 2015	220,312
Asia
Goodwill [Line Items]
Balance at June 30, 2015	842
Impact of foreign exchange	(4)
Balance at September 30, 2015	$ 838

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Income Taxes (Tables)

3 Months Ended

Sep. 30, 2015

Effective Tax Rates, Including Discrete Items, Attributable to Continuing Operations

For the three months ended September 30, 2015 and 2014, the effective tax rates, including discrete items, attributable to continuing operations were as follows:

	Three months ended September 30,
	2015			2014
Effective tax rate provision		28.6	%		33.6	%

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Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	Feb. 13, 2014	Oct. 08, 2015
Related Party Transaction [Line Items]
Amount loaned to related parties	$ 3,354
Notes, interest rate	2.00%
Notes, maturity date	Feb. 14, 2015
Transaction description	On February 13, 2014 the Company loaned CEP III Chase Finance S.à r.l., an entity owned by The Carlyle Group (“Carlyle”), and Mustang Intermediate Investments S.à r.l., an entity owned by Madison Dearborn Partners, each $1,677 to enable them to purchase 5.1% of the outstanding capital stock of CD Cartondruck GmbH. The notes bear interest at a rate of 2.0%, compounded annually, and had a maturity date of February 14, 2015. The loan automatically renews for one year periods unless terminated through a written notice no less than four weeks prior to maturity.
CEP III Chase Finance S.a r.l.
Related Party Transaction [Line Items]
Amount loaned to related parties	$ 1,677
Mustang Intermediate Investments S.a r.l.
Related Party Transaction [Line Items]
Amount loaned to related parties	$ 1,677
CD Cartondruck GmBH
Related Party Transaction [Line Items]
Outstanding capital stock, percentage	5.10%
Subsequent Event | CD Cartondruck GmBH
Related Party Transaction [Line Items]
Ownership interest percentage		100.00%

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Summary of Significant Accounting Policies (Tables)

3 Months Ended

Sep. 30, 2015

Earnings per Share Computation

	For the Three Months Ended September 30,
	2015		2014
Numerator:
Net income available to common shareholders—basic and diluted	$	13,007	$	7,007
Denominator:
Weighted average number of common shares outstanding—basic and diluted		61,939,432		61,939,432
Basic earnings per common share	$	0.21	$	0.11
Dilutive earnings per common share	$	0.21	$	0.11

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Change in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (13,287)	$ 12,891
Other Comprehensive income (loss) before reclassifications	(8,858)	(18,515)
Ending balance	(22,145)	(5,624)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(33,045)	5,919
Other Comprehensive income (loss) before reclassifications	(9,633)	(18,195)
Ending balance	(42,678)	(12,276)
Available for Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	15	9
Other Comprehensive income (loss) before reclassifications	(17)	19
Ending balance	(2)	28
Pension Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	19,743	6,963
Other Comprehensive income (loss) before reclassifications	792	(339)
Ending balance	$ 20,535	$ 6,624

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Preliminary Purchase Price Allocation to Assets Acquired and Liabilities Assumed (Detail) - AGI Shorewood $ in Thousands	Nov. 21, 2014 USD ($)
Assets
Cash and cash equivalents	$ 19,401
Accounts receivable	76,435
Inventories	33,312
Prepaid expenses and other current assets	6,795
Deferred income taxes	15,256
Property, plant and equipment	49,219
Other long-term assets	3,610
Less: Liabilities
Current liabilities	(63,666)
Other long-term liabilities	(6,568)
Preliminary purchase price	$ 133,794

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Segments (Tables)

3 Months Ended

Sep. 30, 2015

Segment Information

	For the three months ended September 30,
	2015		2014
Net Sales
North America	$	215,532	$	158,550
Europe		221,413		231,085
Asia		22,106		4,447
Total Net Sales	$	459,051	$	394,082
Depreciation and Amortization
North America	$	15,490	$	15,094
Europe		17,058		17,665
Asia		763		288
Total Depreciation and Amortization	$	33,311	$	33,047
Operating Income (Loss)
North America	$	14,342	$	6,116
Europe		23,223		20,239
Asia		3,114		(152	)
Total Operating Income	$	40,679	$	26,203
Adjusted EBITDA (1)
North America	$	32,262	$	22,755
Europe		40,791		38,168
Asia		4,143		247
Total Adjusted EBITDA	$	77,196	$	61,170
Capital Expenditures
North America	$	5,553	$	2,518
Europe		4,004		7,957
Asia		2,764		11
Total Capital Expenditures	$	12,321	$	10,486
	As of September 30, 2015		As of June 30, 2015
Total Assets
North America	$	884,485	$	915,601
Europe		933,581		866,214
Asia		83,637		100,310
Total Assets	$	1,901,703	$	1,882,125

(1) (Dollars in Thousands)	For the three months ended September 30,
	2015			2014
Adjusted EBITDA	$	77,196		$	61,170
Transaction costs		(350	)		(721	)
Stock based and deferred compensation		272			(431	)
Purchase accounting adjustments		(331	)		(476	)
Restructuring and severance costs		(2,826	)		(704	)
(Gain) loss on sale of fixed assets		(194	)		64
Impairment charges		(245	)		—
Foreign currency gains (loss)		(2,877	)		4,798
Other adjustments to EBITDA		(290	)		(1,131	)
EBITDA		70,355			62,569
Income tax expense		5,231			3,694
Interest expense		18,729			18,540
Depreciation and amortization		33,311			33,047
Net income	$	13,084		$	7,288

Summary of Gross Sales Estimated by Product Category

The following is a summary of gross sales estimated by product category for the respective periods:

	For the three months ended September 30,
	2015			2014
Premium Folding Cartons	$	311,621		$	261,289
Inserts		65,575			58,623
Labels		33,769			34,172
Rigid Packaging		34,263			9,543
Other Consumer Products		53,940			55,583
Total		499,168			419,210
Sales Reserves and Eliminations		(40,117	)		(25,128	)
Total Sales	$	459,051		$	394,082

Summary of Net Sales Estimated by End Markets

	For the three months ended September 30,
Net Sales		2015		2014
Consumer	$	233,338	$	202,750
Health Care		157,759		153,112
Media		67,954		38,220
Total Net Sales	$	459,051	$	394,082

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Effective Tax Rates attributable to continuing operations (Detail)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Income Taxes [Line Items]
Effective tax rate provision	28.60%	33.60%

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Summary of Net Sales Estimated by End Markets (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Revenue, Major Customer [Line Items]
Net sales	$ 459,051	$ 394,082
Consumer Business
Revenue, Major Customer [Line Items]
Net sales	233,338	202,750
Healthcare
Revenue, Major Customer [Line Items]
Net sales	157,759	153,112
Media
Revenue, Major Customer [Line Items]
Net sales	$ 67,954	$ 38,220

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Profits Interests Activity (Detail) - $ / shares	3 Months Ended	12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015
Incentive Units Subject to Profits Interests
Outstanding at end of period	0
2014 Plan
Incentive Units Subject to Profits Interests
Outstanding at beginning of period	1,604,500
Profits interests granted pursuant to the 2014 Plan	0
Profits interests expired/cancelled/repurchased	0
Outstanding at end of period	1,604,500	1,604,500
Vested at end of period	585,400
Weighted Average Exercise Price (or Distribution Threshold)
Outstanding at beginning of period	$ 10.94
Profits interests granted pursuant to the 2014 Plan	0
Profits interests expired/cancelled/repurchased	0
Ending at end of period	10.94	$ 10.94
Vested at end of period	$ 10.00
Weighted Average Remaining Life (Years)
Outstanding at beginning of period	8 years	8 years 3 months 18 days
Vested at end of period	8 years

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Financial Assets and Liabilities Carried at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
Assets:
Available for sale securities	$ 236	$ 253
Fair Value, Measurements, Recurring
Assets:
Cash and cash equivalents	75,279	55,675
Restricted cash	1,994	1,985
Available for sale securities	236	253
Foreign currency contracts	34	57
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Assets:
Cash and cash equivalents	75,279	55,675
Restricted cash	1,994	1,985
Available for sale securities	236	253
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Assets:
Foreign currency contracts	34	57
Fair Value, Measurements, Recurring | Interest Rate Swap
Liabilities:
Derivative Liabilities	(3,015)	(2,988)
Fair Value, Measurements, Recurring | Interest Rate Swap | Fair Value, Inputs, Level 2
Liabilities:
Derivative Liabilities	$ (3,015)	(2,988)
Fair Value, Measurements, Recurring | Currency Swap
Liabilities:
Derivative Liabilities		(34)
Fair Value, Measurements, Recurring | Currency Swap | Fair Value, Inputs, Level 2
Liabilities:
Derivative Liabilities		$ (34)

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Acquisitions

3 Months Ended

Sep. 30, 2015

Acquisitions

Note 3—Acquisitions

AGI Shorewood

On November 21, 2014, the Company acquired the Non-European Folding Carton and Lithographic Printing Business of AGI Global Holdings Coöperatief U.A. and the US Folding Carton and Lithographic Printing Business of Atlas AGI Holdings LLC (collectively, “ASG”) for an aggregate purchase price of approximately $133,794 in cash. The Company acquired ASG to further expand the Company’s global network and customer base.

The preliminary purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. The fair value estimates for the assets acquired and liabilities assumed were based on estimates and analysis using widely recognized valuation methods. Adjustments may be made to the estimated fair values during the measurement period as the Company’s obtains additional information.

Assets
Cash and cash equivalents	$	19,401
Accounts receivable		76,435
Inventories		33,312
Prepaid expenses and other current assets		6,795
Deferred income taxes		15,256
Property, plant and equipment		49,219
Other long-term assets		3,610
Less: Liabilities
Current liabilities		(63,666	)
Other long-term liabilities		(6,568	)
Preliminary purchase price	$	133,794

During the three months ended September 30, 2015, the Company adjusted the preliminary purchase price allocation as a measurement period adjustment to reduce liabilities and reduce property, plant and equipment by approximately $464.

BluePrint Media Limited

On July 1, 2015, the Company completed the acquisition of BP Media, Ltd. (“BluePrint”). The acquisition of BluePrint provides the Company with pre-press and digital services in the European market, facilitating the processes surrounding translation and interchangeability of print content for foreign locations. In addition, BluePrint provides the Company with an established sales presence in the media markets in Europe, which will enable the Company to serve the European needs of global media releases. The preliminary purchase price allocation is not material to the consolidated financial statements. The operations of BluePrint are included in the Company’s consolidated statements of operations and comprehensive income (loss) since July 1, 2015.

CD Cartondruck AG

The Company has contingent consideration relating to the June 9, 2011 purchase of CD Cartondruck AG (“Cartondruck”), of $2,136 payable on June 9, 2016. The value of the contingent consideration is being recorded as future compensation expense on a straight-line basis over the period of a required employment agreement. Compensation expense of $107 for the three months ended September 30, 2015 and 2014, is recorded in selling, general and administrative expenses in the consolidated statements of operations and comprehensive income (loss). The contingent consideration is subject to satisfaction of certain employment contingencies. The Company has a restricted cash balance in the amounts of $1,994 and $1,985 as of September 30, 2015 and June 30, 2015, respectively, which is recorded in other assets on the accompanying condensed consolidated balance sheets.

Additionally, with the purchase of Cartondruck, there could also be an additional payment (the “Earnout”), which is based on the future performance of the acquired company. The Earnout will be recorded as future compensation ratably over the period it becomes probable of achievement. The Earnout ranges from $0 to $3,475 based on cumulative earnings before interest, taxes, depreciation and amortization (“EBITDA” as defined in the Share Purchase Agreement) achieved over a five-year period. As of September 30, 2015 and June 30, 2015, the Company concluded the Earnout was not probable of achievement and, therefore, no amount has been recognized to date.

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Restricted Capital Interests Valuation Assumptions (Detail) - 2014 Plan - Restricted Stock Units (RSUs) - $ / shares	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	4 years 3 months 4 days	6 years 3 months
Expected volatility	41.00%	46.58%
Risk-free rate	1.20%	2.13%
Expected dividends	0.00%	0.00%
Weighted average fair-value at end of period of all profits interest issued under the 2014 plan	$ 11.23	$ 4.77

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Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
Inventory [Line Items]
Raw materials	$ 57,778	$ 60,549
Work in progress	31,177	28,677
Finished goods	100,675	104,658
Total inventories	189,630	193,884
Reserves	(21,725)	(22,048)
Inventories	$ 167,905	$ 171,836

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Goodwill (Tables)

3 Months Ended

Sep. 30, 2015

Summary of Changes in Carrying Value of Goodwill by Reportable Segment

The changes in the carrying value of goodwill by reportable segment are as follows:

	North America		Europe			Asia			Total
Balance at June 30, 2015	$	250,784	$	223,275		$	842		$	474,901
Acquisition of BluePrint		—		965			—			965
Impact of foreign exchange		—		(3,928	)		(4	)		(3,932	)
Balance at September 30, 2015	$	250,784	$	220,312		$	838		$	471,934

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Intangible Assets (Tables)

3 Months Ended

Sep. 30, 2015

Intangible Assets

Intangible assets consisted of the following:

September 30, 2015	Gross Carrying Amount		Accumulated Amortization			Net		Estimated Useful Life (Years)
Customer relationships	$	477,686	$	(90,101	)	$	387,585		14
Developed technology		19,039		(6,080	)		12,959		5
Photo library		1,287		(466	)		821		5
Licensing agreements		4,195		(651	)		3,544		4
Total	$	502,207	$	(97,298	)	$	404,909
June 30, 2015	Gross Carrying Amount		Accumulated Amortization			Net		Estimated Useful Life (Years)
Customer relationships	$	479,778	$	(78,457	)	$	401,321		14
Developed technology		19,907		(5,508	)		14,399		5
Photo library		1,259		(403	)		856		5
Licensing agreements		3,524		(367	)		3,157		4
Total	$	504,468	$	(84,735	)	$	419,733

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Summary of Activity with Respect to Reserve Established in Connection with Restructuring Plan (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Restructuring Cost and Reserve [Line Items]
Beginning balance	$ 1,032	$ 4,310
Restructuring costs	2,826	704
Amounts paid	(356)	(463)
Ending balance	3,502	3,847
Severance and Employee Related
Restructuring Cost and Reserve [Line Items]
Beginning balance	256	2,060
Restructuring costs	1,548
Amounts paid	(247)	(243)
Ending balance	1,557	1,817
Costs Associated with Exit or Disposal Activities
Restructuring Cost and Reserve [Line Items]
Beginning balance	776	2,250
Restructuring costs	1,278
Amounts paid	(109)	(220)
Ending balance	$ 1,945	$ 2,030

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Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 502,207	$ 504,468
Accumulated Amortization	(97,298)	(84,735)
Net	404,909	419,733
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	477,686	479,778
Accumulated Amortization	(90,101)	(78,457)
Net	$ 387,585	$ 401,321
Estimated Useful Life (Years)	14 years	14 years
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 19,039	$ 19,907
Accumulated Amortization	(6,080)	(5,508)
Net	$ 12,959	$ 14,399
Estimated Useful Life (Years)	5 years	5 years
Photo library
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,287	$ 1,259
Accumulated Amortization	(466)	(403)
Net	$ 821	$ 856
Estimated Useful Life (Years)	5 years	5 years
Licensing Agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,195	$ 3,524
Accumulated Amortization	(651)	(367)
Net	$ 3,544	$ 3,157
Estimated Useful Life (Years)	4 years	4 years

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Fair Value of Financial Instruments (Tables)

3 Months Ended

Sep. 30, 2015

Financial Assets and Liabilities Carried at Fair Value on Recurring Basis

The following table sets forth the Company’s financial assets and liabilities carried at fair value on a recurring basis by level within the fair value hierarchy:

As of September 30, 2015	Level 1		Level 2			Level 3		Total
Assets:
Cash and cash equivalents	$	75,279	$	—		$	—	$	75,279
Restricted cash		1,994		—			—		1,994
Available for sale securities		236		—			—		236
Foreign currency contracts		—		34			—		34
Liabilities:
Interest rate swap		—		(3,015	)		—		(3,015	)
As of June 30, 2015	Level 1		Level 2			Level 3		Total
Assets:
Cash and cash equivalents	$	55,675	$	—		$	—	$	55,675
Restricted cash		1,985		—			—		1,985
Available for sale securities		253		—			—		253
Foreign currency contracts				57					57
Liabilities:
Interest rate swap		—		(2,988	)		—		(2,988	)
Foreign currency swap		—		(34	)		—		(34	)

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Other Income (Expense), net (Tables)

3 Months Ended

Sep. 30, 2015

Schedule of Other income (expense), Net

Other income (expense), net is comprised of the following for the three months ended September 30, 2015 and 2014:

	For the three months ended September 30,
	2015			2014
Equity in net earnings of unconsolidated entities	$	—		$	39
Loss on derivatives		(755	)		(1,626	)
Foreign currency (losses) gains		(2,877	)		4,798
Other (loss) income		(3	)		108
Other (Expense) Income, net	$	(3,635	)	$	3,319

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Summary of Significant Accounting Policies

3 Months Ended

Sep. 30, 2015

Summary of Significant Accounting Policies

Note 2—Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements as of September 30, 2015 and for the three months ended September 30, 2015 and 2014 have been prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”) and on the same basis as the Company prepares its annual audited consolidated financial statements. The condensed consolidated balance sheet as of September 30, 2015 and the condensed consolidated statements of operations and comprehensive income (loss) and cash flows for the three months ended September 30, 2015 and 2014 and statement of shareholders’ equity for the three months ended September 30, 2015 are unaudited, but include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of the consolidated financial position, operating results and cash flows for the periods presented. The results for the three months ended September 30, 2015 are not necessarily indicative of results to be expected for the year ending June 30, 2016 or for any future interim period. The condensed consolidated balance sheet at June 30, 2015 has been derived from the audited consolidated financial statements of the Company. However, the interim financial information does not include all of the information and notes required by GAAP for complete consolidated financial statements. The accompanying condensed consolidated financial statements and notes thereto should be read in conjunction with the consolidated financial statements for the year June 30, 2015, and notes thereto included in the Company’s Registration Statement filed on Form S-1.

Principles of Consolidation

The consolidated financial statements include the accounts of Multi Packaging Solutions International Limited and its controlled subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.

Foreign Currency

The functional currencies of the Company’s foreign subsidiaries are the respective local currencies. Assets and liabilities of the Company’s foreign subsidiaries and affiliates are translated into U.S. dollars at the period end exchange rates, and revenues and expenses are translated at average monthly exchange rates. Translation gains and losses are recorded as a component of accumulated other comprehensive (loss) income within the accompanying consolidated statements of shareholders’ equity. Transaction gains and losses resulting from transactions entered into under contracts in a currency other than the subsidiary’s functional currency are accounted for on a transactional basis as a credit or charge to operations. The Company recognized foreign currency transaction (losses) gains in the amounts of $(2,877) and $4,798, for the three months ended September 30, 2015 and 2014, respectively, which is recorded in other income (expense) in the accompanying consolidated statements of operations and comprehensive income (loss).

Cash and Cash Equivalents

The Company considers all short-term investments with a maturity of three months or less when purchased to be cash equivalents. The Company has restricted cash deposited in an escrow account relating to contingent consideration from the June 9, 2011 acquisition of CD Cartondruck AG. Restricted cash was $1,994 and $1,985 as of September 30, 2015 and June 30, 2015, respectively, and is included as a component of Other assets on the condensed consolidated balance sheets.

Accounts Receivable and Allowance for Doubtful Accounts

Accounts receivable are presented net of an allowance for doubtful accounts of $2,195 and $2,932 as of September 30, 2015 and June 30, 2015, respectively. The allowance for doubtful accounts reduces receivables to amounts that are expected to be collected. In estimating the allowance, management considers factors such as current overall and industry-specific economic conditions, statutory requirements, historical and anticipated customer performance, historical experience with write-offs and the level of past-due amounts. Changes in these conditions may result in additional allowances. After all attempts to collect a receivable have failed, the receivable is written off against the allowance.

Deferred Financing Costs

Costs relating to obtaining debt financing are capitalized and amortized over the term of the related debt using effective interest method. Amortization of deferred financing costs charged to interest expense was $223 and $201 for the three months ended September 30, 2015 and 2014, respectively.

Goodwill and Intangible Assets

Goodwill represents the cost of acquired businesses in excess of the fair value of the assets acquired and liabilities assumed of such businesses at the acquisition date. Goodwill is not amortized, but is subject to impairment tests. The Company reviews the carrying amounts of goodwill by reporting unit at least annually on April 1 (the annual assessment date), or more frequently when indicators of impairment are present, to determine if goodwill may be impaired. The Company may first assess qualitative factors to determine whether it is more likely than not that the fair value of goodwill is less than its carrying value. The Company would not be required to quantitatively determine the fair value of goodwill unless the Company determines, based on the qualitative assessment, that it is more likely than not that its fair value is less than the carrying value.

If the Company determines that the fair value is less than the carrying value based on the qualitative assessment, a quantitative assessment based upon discounted cash flow and market approach analyses is performed to determine the estimated fair value of the reporting units. The Company includes assumptions about expected future operating performance as part of a discounted cash flow analysis to estimate fair value. If the carrying values of the reporting unit is in excess of its calculated fair value, management performs the next step, which is a hypothetical allocation of the calculated fair value to the assets and liabilities of the reporting unit, including intangible assets, to determine implied goodwill. Goodwill is considered impaired if the implied goodwill is less than the goodwill. There were no indicators of impairment during the three months ended September 30, 2015.

Intangible assets have been acquired through various business acquisitions and include customer relationships, developed technology, licensing agreements, and a photo library. The intangible assets are initially valued at their acquisition date using either a discounted cash flow model or relief from royalty method. The relief from royalty method is used for determining the fair value of developed technology and licensing agreements and assumes that if the acquired company did not own the intangible asset or intellectual property, it would be willing to pay a royalty for its use. The benefit of ownership of the intellectual property is valued as the relief from the royalty expense that would otherwise be incurred. Intangible assets are amortized on a straight-line basis, except for customer relationship intangibles that are amortized on an accelerated basis. Useful lives vary by asset type and are determined based on the period over which the intangible asset is expected to contribute directly or indirectly to the Company’s future cash flows.

Available-For-Sale Securities

The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. Securities not classified as held to maturity or as trading, are classified as available for sale, and are carried at fair market value, with the unrealized gains and losses, net of tax, included in the determination of comprehensive income. The Company reviews its holdings on a regular basis to determine if there has been an other-than-temporary decline in market value. If it is determined that an other-than-temporary decline exists in a marketable equity security, the Company writes down the investment to its fair market value and records the related write-down as an investment loss in its consolidated statement of operations and comprehensive income. Available-for-sale securities were $236 and $253 as of September 30, 2015 and June 30, 2015, respectively, and are recorded in other assets on the Company’s condensed consolidated balance sheets.

Derivative Instruments

The Company uses derivative instruments to manage its exposure to certain risks relating to its ongoing business operations. The Company has not elected hedge accounting for these derivative instruments, and accordingly are valued at fair value with unrealized gains or losses reported in earnings during the period of the change. No derivative instruments are entered into for speculative purposes.

One risk managed by the Company using derivative instruments is interest rate risk. To manage interest rate exposure, the Company enters into hedge transactions (interest rate swaps) using derivative financial instruments. The objective of entering into interest rate swaps is to eliminate the variability of cash flows in the London Interbank Offered Rate (“LIBOR”) interest payments associated with variable-rate loans over the life of the loans. As changes in interest rates affect the future cash flow of interest payments, the hedges provide a synthetic offset to interest rate movements.

The Company is also exposed to foreign-currency exchange-rate fluctuations in the normal course of business, primarily related to the British Pound Sterling, Euros, Mexican Pesos, Canadian Dollars, Chinese Yuan and the Polish Zloty denominated liabilities within its international subsidiaries whose functional currency is other than the U.S. dollar. The Company manages these fluctuations, in part, using non-deliverable forward foreign exchange contracts and foreign currency forward contracts, that are intended to offset changes in cash flow attributable to currency exchange movements. These contracts are intended primarily to economically address exposure related to merchandise inventory expenditures made by the Company’s international subsidiaries whose functional currency is other than the U.S. dollar.

For the three months ended September 30, 2015 and 2014, the change in the fair value of interest rate swaps was $26 and $2,538, respectively, which is recorded in other income (expense), net in the accompanying condensed statements of operations and comprehensive income (loss). For the three months ended September 30, 2015 and 2014, the change in the fair value of the forward foreign exchange contracts was $12, and $(317), which is recorded as selling, general and administrative expenses in the accompanying condensed statement of operations and comprehensive income (loss). The Company considers derivative financial instruments as level 2 investments in the fair value hierarchy discussed in fair value measurements, below and within Note 7.

Concentrations

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable.

The Company places its cash and cash equivalents with high quality financial institutions and limits the amount of credit exposure with any one institution. At times, the Company’s cash may be uninsured or in deposit accounts that exceed the Federal Deposit Insurance Corporation insurance limits or comparable insurance in Europe.

Concentrations of credit risk with respect to accounts receivable are limited because a large number of geographically diverse customers make up the Company’s customer base, thus spreading the credit risk. The Company controls credit risk through credit approvals, credit limits, and monitoring procedures. The Company performs credit evaluations of its customers, but generally does not require collateral to support accounts receivable. At September 30, 2015 and June 30, 2015, no customers accounted for more than 10% of accounts receivable. For the three months ended September 30, 2015 and 2014, no customers accounted for more than 10% of net sales.

Revenue Recognition

The Company produces packaging products, principally cartons, labels, inserts and rigid packaging for sale to manufacturers of branded and private label consumer goods, pharmaceutical, medical and multi-media products. Products are printed on board, paper or plastic substrates and converted via printing presses and oftentimes subsequently finished in a folding or gluing or other operation. The Company records revenue on the sales of products manufactured when title to the product transfers, which is generally at the time of shipment to the customer.

In all of the above cases, revenue is recorded only when (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred, (iii) the fee is fixed and determinable and (iv) collectability of the sales is reasonably assured. Provisions for discounts and rebates to customers, estimated returns and allowances and other adjustments are provided for in the same period the related sales are recorded when they are determined to be probable and estimable.

Income Taxes

The Company recognizes income taxes in accordance with guidance established by GAAP, which requires an asset and liability approach for financial accounting and reporting for income taxes and establishes a minimum threshold for financial statement recognition of the benefit of tax positions. The provision for income taxes is based upon income or loss after adjustment for those items that are not considered in the determination of taxable income.

Deferred income taxes represent the tax effects of differences between the financial reporting and tax bases of the Company’s assets and liabilities at the enacted tax rates in effect for the years in which the differences are expected to reverse. The Company evaluates the recoverability of deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized.

Earnings Per Share

Basic earnings per share are computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options (using the treasury stock method).

	For the Three Months Ended September 30,
	2015		2014
Numerator:
Net income available to common shareholders—basic and diluted	$	13,007	$	7,007
Denominator:
Weighted average number of common shares outstanding—basic and diluted		61,939,432		61,939,432
Basic earnings per common share	$	0.21	$	0.11
Dilutive earnings per common share	$	0.21	$	0.11

There were no options in the Company’s common shares outstanding during the three months ended September 30, 2015 and 2014, respectively.

Recently Issued Accounting Pronouncements

In September 2015, the FASB issued ASU 2016-15, Simplifying the Accounting for Measurement-Period Adjustments. This ASU simplifies the accounting for adjustments made to provisional amounts recognized in a business combination, the amendments in this ASU eliminate the requirement to retrospectively account for those adjustments. This ASU will be effective beginning in 2016. The adoption of this ASU is not expected to have a material effect on our consolidated financial statements.

There have been no other material changes to the significant accounting policies previously disclosed in the Company’s Registration Statement filed on Form S-1.

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Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Sep. 30, 2015

Change in Accumulated Other Comprehensive Income (Loss)

The change in accumulated other comprehensive income (loss) for the three months ended September 30, 2015 and 2014 is as follows:

	Foreign Currency Translation Adjustments			Available for Sale Securities			Pension Adjustments			Total
Balance as of June 30, 2015	$	(33,045	)	$	15		$	19,743		$	(13,287	)
Other Comprehensive income (loss) before reclassifications		(9,633	)		(17	)		792			(8,858	)
Balance as of September 30, 2015	$	(42,678	)	$	(2	)	$	20,535		$	(22,145	)
	Foreign Currency Translation Adjustments			Available for Sale Securities			Pension Adjustments			Total
Balance as of June 30, 2014	$	5,919		$	9		$	6,963		$	12,891
Other Comprehensive income (loss) before reclassifications		(18,195	)		19			(339	)		(18,515	)
Balance as of September 30, 2014	$	(12,276	)	$	28		$	6,624		$	(5,624	)

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Earnings per Share Computation (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Computation of Earnings Per Share [Line Items]
Net income available to common shareholders-basic and diluted	$ 13,007	$ 7,007
Weighted average number of common shares outstanding-basic and diluted	61,939,432	61,939,432
Basic earnings per common share	$ 0.21	$ 0.11
Dilutive earnings per common share	$ 0.21	$ 0.11

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Income Taxes - Additional Information (Detail)	3 Months Ended
	Sep. 30, 2015
MEXICO
Income Taxes [Line Items]
Year under tax audit	2008
UNITED STATES | Earliest Tax Year
Income Taxes [Line Items]
Year under tax audit	2012
UNITED STATES | Latest Tax Year
Income Taxes [Line Items]
Year under tax audit	2014
CANADA | Earliest Tax Year
Income Taxes [Line Items]
Year under tax audit	2012
CANADA | Latest Tax Year
Income Taxes [Line Items]
Year under tax audit	2014

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
Current assets
Cash and cash equivalents	$ 75,279	$ 55,675
Accounts receivable, net	273,214	240,110
Inventories	167,905	171,836
Prepaid expenses and other current assets	28,544	26,892
Deferred income taxes	6,642	8,454
Total current assets	551,584	502,967
Property, plant and equipment
Land	56,441	58,316
Buildings and improvements	59,035	58,368
Machinery and equipment	363,455	373,639
Furniture and fixtures	14,209	13,056
Construction in progress	22,770	12,255
Total	515,910	515,634
Less: Accumulated depreciation	(99,098)	(86,691)
Total property, plant and equipment, net	416,812	428,943
Other assets
Intangible assets, net	404,909	419,733
Goodwill	471,934	474,901
Deferred financing costs, net	4,095	4,311
Deferred income taxes	14,568	14,568
Other assets	37,801	36,702
Total assets	1,901,703	1,882,125
Current liabilities
Accounts payable	196,178	176,431
Payroll and benefits	50,975	51,606
Other current liabilities	46,487	46,097
Short-term foreign borrowings	4,732	3,488
Current portion of long-term debt	36,097	11,740
Income taxes payable	10,016	6,022
Total current liabilities	344,485	295,384
Long-term debt, less current portion	1,139,160	1,173,161
Deferred income taxes	91,061	93,061
Other long-term liabilities	34,554	31,829
Total liabilities	$ 1,609,260	$ 1,593,435
Commitments and contingencies
Shareholders' equity
Contributed Capital, $1.00 par value, 1,000,000,000 shares authorized, 61,939,432 issued and outstanding at September 30, 2015 and June 30, 2015	$ 61,939	$ 61,939
Paid in capital	278,281	278,695
Accumulated deficit	(32,358)	(45,365)
Accumulated other comprehensive loss	(22,145)	(13,287)
Total Multi Packaging Solutions International Limited shareholders' equity	285,717	281,982
Noncontrolling interest	6,726	6,708
Total shareholders' equity	292,443	288,690
Total liabilities and shareholders' equity	$ 1,901,703	$ 1,882,125

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Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Finite-Lived Intangible Assets [Line Items]
Amortization expense on definite lived intangible assets	$ 14,064	$ 13,631

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating Activities
Net income	$ 13,084	$ 7,288
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
Depreciation expense	19,247	19,415
Amortization expense	15,285	14,428
Deferred income taxes	(697)	(1,513)
Stock compensation	(414)	291
Equity in earnings of unconsolidated subsidiary		(39)
Unrealized foreign currency loss (gain)	1,183	(4,787)
Other	1,255	1,638
Change in assets and liabilities:
Accounts receivable	(29,546)	(45,801)
Inventories	933	2,295
Prepaid expenses and other current assets	(859)	(936)
Other assets	(4,496)	(753)
Accounts payable	15,724	(167)
Payroll and benefits	(348)	(3,498)
Other current liabilities	(101)	10,106
Income taxes payable	3,957	4,695
Other long-term liabilities	(1,188)	(814)
Net cash and cash equivalents provided by operating activities	33,019	1,848
Investing Activities
Additions to property, plant and equipment	(12,321)	(10,486)
Additions to intangible assets	(28)	(67)
Proceeds from sale of assets	325	660
Acquisitions of businesses, net of cash acquired	(2,749)	(8,621)
Net cash and cash equivalents used in investing activities	(14,773)	(18,514)
Financing Activities
Proceeds from issuance of long-term debt		1,951
Proceeds from short-term borrowings	26,483	54,104
Payments on short-term borrowings	(24,965)	(46,376)
Payments on long-term debt	(4,094)	(4,054)
Net cash and cash equivalents (used in) provided by financing activities	(2,576)	5,625
Effect of exchange rate changes on cash and cash equivalents	3,934	495
Increase (decrease) in cash and cash equivalents	19,604	(10,546)
Cash and cash equivalents-beginning	55,675	27,533
Cash and cash equivalents-ending	$ 75,279	$ 16,987

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Compensation Expense Related to Awards (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	$ (414)	$ 291
2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Time vesting profit interests	(275)	177
Time vesting restricted capital interests	(139)	113
Total	$ (414)	$ 290

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Restructuring (Tables)

3 Months Ended

Sep. 30, 2015

Summary of Activity with Respect to Reserve Established in Connection with Restructuring Plan

The following is a summary of the activity with respect to a reserve established by the Company in connection with the Restructuring Plan, by category of costs.

	Severance and Employee Related			Costs Associated with Exit or Disposal Activities			Total
Balance at June 30, 2015	$	256		$	776		$	1,032
Restructuring costs		1,548			1,278			2,826
Amounts paid		(247	)		(109	)		(356	)
Balance at September 30, 2015	$	1,557		$	1,945		$	3,502
	Severance and Employee Related			Costs Associated with Exit or Disposal Activities			Total
Balance at June 30, 2014	$	2,060		$	2,250		$	4,310
Restructuring costs		—			—			—
Amounts paid		(243	)		(220	)		(463	)
Balance at September 30, 2014	$	1,817		$	2,030		$	3,847

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Segment Information (Detail) - USD ($) $ in Thousands		3 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Segment Reporting Information [Line Items]
Net sales		$ 459,051	$ 394,082
Depreciation and Amortization		33,311	33,047
Operating Income (Loss)		40,679	26,203
Adjusted EBITDA	[1]	77,196	61,170
Capital Expenditures		12,321	10,486
Assets		1,901,703		$ 1,882,125
North America
Segment Reporting Information [Line Items]
Net sales		215,532	158,550
Depreciation and Amortization		15,490	15,094
Operating Income (Loss)		14,342	6,116
Adjusted EBITDA	[1]	32,262	22,755
Capital Expenditures		5,553	2,518
Assets		884,485		915,601
Europe
Segment Reporting Information [Line Items]
Net sales		221,413	231,085
Depreciation and Amortization		17,058	17,665
Operating Income (Loss)		23,223	20,239
Adjusted EBITDA	[1]	40,791	38,168
Capital Expenditures		4,004	7,957
Assets		933,581		866,214
Asia
Segment Reporting Information [Line Items]
Net sales		22,106	4,447
Depreciation and Amortization		763	288
Operating Income (Loss)		3,114	(152)
Adjusted EBITDA	[1]	4,143	247
Capital Expenditures		2,764	$ 11
Assets		$ 83,637		$ 100,310

[1] For the three months ended September 30, 2015 2014 Adjusted EBITDA $ 77,196 $ 61,170 Transaction costs (350 ) (721 ) Stock based and deferred compensation 272 (431 ) Purchase accounting adjustments (331 ) (476 ) Restructuring and severance costs (2,826 ) (704 ) (Gain) loss on sale of fixed assets (194 ) 64 Impairment charges (245 ) - Foreign currency gains (loss) (2,877 ) 4,798 Other adjustments to EBITDA (290 ) (1,131 ) EBITDA 70,355 62,569 Income tax expense 5,231 3,694 Interest expense 18,729 18,540 Depreciation and amortization 33,311 33,047 Net income $ 13,084 $ 7,288

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Segments

3 Months Ended

Sep. 30, 2015

Segments

Note 16—Segments

The Company operates its business along three operating segments, which are grouped on the basis of geography: North America, Europe and Asia. The Company believes this method of segment reporting reflects both the way its business segments are managed and the way the performance of each segment is evaluated. The three segments consist of similar operating activities as each segment produces similar products.

Generally, the Company evaluates performance based on stand-alone segment net income (loss) before income taxes, interest, depreciation, amortization, restructuring, transaction and other costs related to acquisitions (“Adjusted EBITDA”) and accounts for inter-segment sales and transfers, which were not material, as if the sales or transfers were to third parties, at current market prices.

	For the three months ended September 30,
	2015		2014
Net Sales
North America	$	215,532	$	158,550
Europe		221,413		231,085
Asia		22,106		4,447
Total Net Sales	$	459,051	$	394,082
Depreciation and Amortization
North America	$	15,490	$	15,094
Europe		17,058		17,665
Asia		763		288
Total Depreciation and Amortization	$	33,311	$	33,047
Operating Income (Loss)
North America	$	14,342	$	6,116
Europe		23,223		20,239
Asia		3,114		(152	)
Total Operating Income	$	40,679	$	26,203
Adjusted EBITDA (1)
North America	$	32,262	$	22,755
Europe		40,791		38,168
Asia		4,143		247
Total Adjusted EBITDA	$	77,196	$	61,170
Capital Expenditures
North America	$	5,553	$	2,518
Europe		4,004		7,957
Asia		2,764		11
Total Capital Expenditures	$	12,321	$	10,486
	As of September 30, 2015		As of June 30, 2015
Total Assets
North America	$	884,485	$	915,601
Europe		933,581		866,214
Asia		83,637		100,310
Total Assets	$	1,901,703	$	1,882,125

The Company’s product offerings consist of print-based specialty packaging products across the consumer, health care and multi-media end markets. The Company produces similar products including labels, cartons, inserts and rigid packaging (the “Specific Products”) in all of the geographies it serves, and in all of the end markets it serves. These Specific Products represent one product line. The nature of a specific carton, label, insert or rigid package is similar from end market to end market and geography to geography. Oftentimes, the Specific Products sold to the customer are bundled, including both label and carton, or label, carton and insert or any combination thereof. The following is a summary of gross sales estimated by product category for the respective periods:

	For the three months ended September 30,
	2015			2014
Premium Folding Cartons	$	311,621		$	261,289
Inserts		65,575			58,623
Labels		33,769			34,172
Rigid Packaging		34,263			9,543
Other Consumer Products		53,940			55,583
Total		499,168			419,210
Sales Reserves and Eliminations		(40,117	)		(25,128	)
Total Sales	$	459,051		$	394,082
	For the three months ended September 30,
Net Sales		2015			2014
Consumer	$	233,338		$	202,750
Health Care		157,759			153,112
Media		67,954			38,220
Total Net Sales	$	459,051		$	394,082

(1) (Dollars in Thousands)	For the three months ended September 30,
	2015			2014
Adjusted EBITDA	$	77,196		$	61,170
Transaction costs		(350	)		(721	)
Stock based and deferred compensation		272			(431	)
Purchase accounting adjustments		(331	)		(476	)
Restructuring and severance costs		(2,826	)		(704	)
(Gain) loss on sale of fixed assets		(194	)		64
Impairment charges		(245	)		—
Foreign currency gains (loss)		(2,877	)		4,798
Other adjustments to EBITDA		(290	)		(1,131	)
EBITDA		70,355			62,569
Income tax expense		5,231			3,694
Interest expense		18,729			18,540
Depreciation and amortization		33,311			33,047
Net income	$	13,084		$	7,288

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Stock Based Compensation (Tables)

3 Months Ended

Sep. 30, 2015

Compensation Expense Related to Awards

The Company recognized compensation expense related to awards under the 2014 Plan as follows:

	For the three months ended September 30,
	2015			2014
Time vesting profit interests	$	(275	)	$	177
Time vesting restricted capital interests		(139	)		113
Total	$	(414	)	$	290

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

For profits interests issued under the 2014 Plan the Company calculates the estimated fair value of each award on the date of grant using the Black–Scholes option valuation model that uses the assumptions noted in the table below and considers a lack of marketability discount. Currently, there is no active market for Holding’s equity. Therefore, as a substitute for Holding’s volatility, the Company has elected to use the historical volatility of various publically traded companies in the printing industry. The Company has used the historical volatilities of these entities to estimate volatility. The Company uses historical data to estimate employee terminations within the valuation model. The expected term of profits interests granted is derived from the output of the option valuation model and represents the period of time that profits interests granted are expected to be outstanding. The risk-free rate for periods within the life of the profits interests is based on the U.S. Treasury yield curve in effect at the time of grant.

	For the three months ended September 30,
	2015			2014
Expected term		4.26			6.25
Expected volatility		41.00	%		46.58	%
Risk-free rate		1.20	%		2.13	%
Expected dividends		—			—
Weighted average fair-value at end of period of all profits interest issued under the 2014 plan	$	10.54		$	4.77

Profits Interests Activity

Profits interests activity under the 2014 Plan summarized as follows:

	Incentive Units Subject to Profits Interests		Weighted Average Exercise Price (or Distribution Threshold)		Weighted Average Remaining Life (Years)
Balance Outstanding at June 30, 2015		1,604,500	$	10.94		8.3
Profits interests granted pursuant to the 2014 Plan		—		—		—
Profits interests expired/cancelled/repurchased		—		—		—
Balance Outstanding September 30, 2015		1,604,500		10.94		8.0
Balance Vested at September 30, 2015		585,400	$	10.00		8.0

Schedule of Share-based Payment Award, Restricted Stock Units, Valuation Assumptions

For Restricted Capital Interests issued under the 2014 Plan the Company calculates the estimated fair value of each award using the Black-Scholes option valuation model that uses the assumptions noted in the table below and considers a lack of marketability discount. Currently, there is no active market for Holding’s equity. Therefore, as a substitute for Holding’s volatility, the Company has elected to use the historical volatility of various publically traded companies in the printing industry. The Company uses historical data to estimate employee terminations within the valuation model. The expected term of profits interests granted is derived from the output of the option valuation model and represents the period of time that profits interests granted are expected to be outstanding. The risk-free rate for periods within the life of the profits interests is based on the U.S. Treasury yield curve in effect at the time of grant.

	For the three months ended September 30,
	2015			2014
Expected term		4.26			6.25
Expected volatility		41.00	%		46.58	%
Risk-free rate		1.20	%		2.13	%
Expected dividends		—			—
Weighted average fair-value at end of period of all profits interest issued under the 2014 plan	$	11.23		$	4.77

Restricted Capital Interests activity

Restricted capital interests activity under the 2014 Plan is summarized as follows:

	Shares Subject to RSU’s		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
Balance Outstanding at June 30, 2015		528,500	$	10.00		8.3
Balance Outstanding at September 30, 2015		528,500	$	10.00		8.0

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Summary of Significant Accounting Policies (Policies)

3 Months Ended

Sep. 30, 2015

Basis of Presentation

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements as of September 30, 2015 and for the three months ended September 30, 2015 and 2014 have been prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”) and on the same basis as the Company prepares its annual audited consolidated financial statements. The condensed consolidated balance sheet as of September 30, 2015 and the condensed consolidated statements of operations and comprehensive income (loss) and cash flows for the three months ended September 30, 2015 and 2014 and statement of shareholders’ equity for the three months ended September 30, 2015 are unaudited, but include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of the consolidated financial position, operating results and cash flows for the periods presented. The results for the three months ended September 30, 2015 are not necessarily indicative of results to be expected for the year ending June 30, 2016 or for any future interim period. The condensed consolidated balance sheet at June 30, 2015 has been derived from the audited consolidated financial statements of the Company. However, the interim financial information does not include all of the information and notes required by GAAP for complete consolidated financial statements. The accompanying condensed consolidated financial statements and notes thereto should be read in conjunction with the consolidated financial statements for the year June 30, 2015, and notes thereto included in the Company’s Registration Statement filed on Form S-1.

Principles of Consolidation

Principles of Consolidation

The consolidated financial statements include the accounts of Multi Packaging Solutions International Limited and its controlled subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation.

Use of Estimates

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.

Foreign Currency

Foreign Currency

The functional currencies of the Company’s foreign subsidiaries are the respective local currencies. Assets and liabilities of the Company’s foreign subsidiaries and affiliates are translated into U.S. dollars at the period end exchange rates, and revenues and expenses are translated at average monthly exchange rates. Translation gains and losses are recorded as a component of accumulated other comprehensive (loss) income within the accompanying consolidated statements of shareholders’ equity. Transaction gains and losses resulting from transactions entered into under contracts in a currency other than the subsidiary’s functional currency are accounted for on a transactional basis as a credit or charge to operations. The Company recognized foreign currency transaction (losses) gains in the amounts of $(2,877) and $4,798, for the three months ended September 30, 2015 and 2014, respectively, which is recorded in other income (expense) in the accompanying consolidated statements of operations and comprehensive income (loss).

Cash and Cash Equivalents

Cash and Cash Equivalents

The Company considers all short-term investments with a maturity of three months or less when purchased to be cash equivalents. The Company has restricted cash deposited in an escrow account relating to contingent consideration from the June 9, 2011 acquisition of CD Cartondruck AG. Restricted cash was $1,994 and $1,985 as of September 30, 2015 and June 30, 2015, respectively, and is included as a component of Other assets on the condensed consolidated balance sheets.

Accounts Receivable and Allowance for Doubtful Accounts

Accounts Receivable and Allowance for Doubtful Accounts

Accounts receivable are presented net of an allowance for doubtful accounts of $2,195 and $2,932 as of September 30, 2015 and June 30, 2015, respectively. The allowance for doubtful accounts reduces receivables to amounts that are expected to be collected. In estimating the allowance, management considers factors such as current overall and industry-specific economic conditions, statutory requirements, historical and anticipated customer performance, historical experience with write-offs and the level of past-due amounts. Changes in these conditions may result in additional allowances. After all attempts to collect a receivable have failed, the receivable is written off against the allowance.

Deferred Financing Costs

Deferred Financing Costs

Costs relating to obtaining debt financing are capitalized and amortized over the term of the related debt using effective interest method. Amortization of deferred financing costs charged to interest expense was $223 and $201 for the three months ended September 30, 2015 and 2014, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill represents the cost of acquired businesses in excess of the fair value of the assets acquired and liabilities assumed of such businesses at the acquisition date. Goodwill is not amortized, but is subject to impairment tests. The Company reviews the carrying amounts of goodwill by reporting unit at least annually on April 1 (the annual assessment date), or more frequently when indicators of impairment are present, to determine if goodwill may be impaired. The Company may first assess qualitative factors to determine whether it is more likely than not that the fair value of goodwill is less than its carrying value. The Company would not be required to quantitatively determine the fair value of goodwill unless the Company determines, based on the qualitative assessment, that it is more likely than not that its fair value is less than the carrying value.

If the Company determines that the fair value is less than the carrying value based on the qualitative assessment, a quantitative assessment based upon discounted cash flow and market approach analyses is performed to determine the estimated fair value of the reporting units. The Company includes assumptions about expected future operating performance as part of a discounted cash flow analysis to estimate fair value. If the carrying values of the reporting unit is in excess of its calculated fair value, management performs the next step, which is a hypothetical allocation of the calculated fair value to the assets and liabilities of the reporting unit, including intangible assets, to determine implied goodwill. Goodwill is considered impaired if the implied goodwill is less than the goodwill. There were no indicators of impairment during the three months ended September 30, 2015.

Intangible assets have been acquired through various business acquisitions and include customer relationships, developed technology, licensing agreements, and a photo library. The intangible assets are initially valued at their acquisition date using either a discounted cash flow model or relief from royalty method. The relief from royalty method is used for determining the fair value of developed technology and licensing agreements and assumes that if the acquired company did not own the intangible asset or intellectual property, it would be willing to pay a royalty for its use. The benefit of ownership of the intellectual property is valued as the relief from the royalty expense that would otherwise be incurred. Intangible assets are amortized on a straight-line basis, except for customer relationship intangibles that are amortized on an accelerated basis. Useful lives vary by asset type and are determined based on the period over which the intangible asset is expected to contribute directly or indirectly to the Company’s future cash flows.

Available-For-Sale Securities

Available-For-Sale Securities

The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. Securities not classified as held to maturity or as trading, are classified as available for sale, and are carried at fair market value, with the unrealized gains and losses, net of tax, included in the determination of comprehensive income. The Company reviews its holdings on a regular basis to determine if there has been an other-than-temporary decline in market value. If it is determined that an other-than-temporary decline exists in a marketable equity security, the Company writes down the investment to its fair market value and records the related write-down as an investment loss in its consolidated statement of operations and comprehensive income. Available-for-sale securities were $236 and $253 as of September 30, 2015 and June 30, 2015, respectively, and are recorded in other assets on the Company’s condensed consolidated balance sheets.

Derivative Instruments

Derivative Instruments

The Company uses derivative instruments to manage its exposure to certain risks relating to its ongoing business operations. The Company has not elected hedge accounting for these derivative instruments, and accordingly are valued at fair value with unrealized gains or losses reported in earnings during the period of the change. No derivative instruments are entered into for speculative purposes.

One risk managed by the Company using derivative instruments is interest rate risk. To manage interest rate exposure, the Company enters into hedge transactions (interest rate swaps) using derivative financial instruments. The objective of entering into interest rate swaps is to eliminate the variability of cash flows in the London Interbank Offered Rate (“LIBOR”) interest payments associated with variable-rate loans over the life of the loans. As changes in interest rates affect the future cash flow of interest payments, the hedges provide a synthetic offset to interest rate movements.

The Company is also exposed to foreign-currency exchange-rate fluctuations in the normal course of business, primarily related to the British Pound Sterling, Euros, Mexican Pesos, Canadian Dollars, Chinese Yuan and the Polish Zloty denominated liabilities within its international subsidiaries whose functional currency is other than the U.S. dollar. The Company manages these fluctuations, in part, using non-deliverable forward foreign exchange contracts and foreign currency forward contracts, that are intended to offset changes in cash flow attributable to currency exchange movements. These contracts are intended primarily to economically address exposure related to merchandise inventory expenditures made by the Company’s international subsidiaries whose functional currency is other than the U.S. dollar.

For the three months ended September 30, 2015 and 2014, the change in the fair value of interest rate swaps was $26 and $2,538, respectively, which is recorded in other income (expense), net in the accompanying condensed statements of operations and comprehensive income (loss). For the three months ended September 30, 2015 and 2014, the change in the fair value of the forward foreign exchange contracts was $12, and $(317), which is recorded as selling, general and administrative expenses in the accompanying condensed statement of operations and comprehensive income (loss). The Company considers derivative financial instruments as level 2 investments in the fair value hierarchy discussed in fair value measurements, below and within Note 7.

Concentrations

Concentrations

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable.

The Company places its cash and cash equivalents with high quality financial institutions and limits the amount of credit exposure with any one institution. At times, the Company’s cash may be uninsured or in deposit accounts that exceed the Federal Deposit Insurance Corporation insurance limits or comparable insurance in Europe.

Concentrations of credit risk with respect to accounts receivable are limited because a large number of geographically diverse customers make up the Company’s customer base, thus spreading the credit risk. The Company controls credit risk through credit approvals, credit limits, and monitoring procedures. The Company performs credit evaluations of its customers, but generally does not require collateral to support accounts receivable. At September 30, 2015 and June 30, 2015, no customers accounted for more than 10% of accounts receivable. For the three months ended September 30, 2015 and 2014, no customers accounted for more than 10% of net sales.

Revenue Recognition

Revenue Recognition

The Company produces packaging products, principally cartons, labels, inserts and rigid packaging for sale to manufacturers of branded and private label consumer goods, pharmaceutical, medical and multi-media products. Products are printed on board, paper or plastic substrates and converted via printing presses and oftentimes subsequently finished in a folding or gluing or other operation. The Company records revenue on the sales of products manufactured when title to the product transfers, which is generally at the time of shipment to the customer.

In all of the above cases, revenue is recorded only when (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred, (iii) the fee is fixed and determinable and (iv) collectability of the sales is reasonably assured. Provisions for discounts and rebates to customers, estimated returns and allowances and other adjustments are provided for in the same period the related sales are recorded when they are determined to be probable and estimable.

Income Taxes

Income Taxes

The Company recognizes income taxes in accordance with guidance established by GAAP, which requires an asset and liability approach for financial accounting and reporting for income taxes and establishes a minimum threshold for financial statement recognition of the benefit of tax positions. The provision for income taxes is based upon income or loss after adjustment for those items that are not considered in the determination of taxable income.

Deferred income taxes represent the tax effects of differences between the financial reporting and tax bases of the Company’s assets and liabilities at the enacted tax rates in effect for the years in which the differences are expected to reverse. The Company evaluates the recoverability of deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized.

Earnings Per Share

Earnings Per Share

Basic earnings per share are computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options (using the treasury stock method).

	For the Three Months Ended September 30,
	2015		2014
Numerator:
Net income available to common shareholders—basic and diluted	$	13,007	$	7,007
Denominator:
Weighted average number of common shares outstanding—basic and diluted		61,939,432		61,939,432
Basic earnings per common share	$	0.21	$	0.11
Dilutive earnings per common share	$	0.21	$	0.11

There were no options in the Company’s common shares outstanding during the three months ended September 30, 2015 and 2014, respectively.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

In September 2015, the FASB issued ASU 2016-15, Simplifying the Accounting for Measurement-Period Adjustments. This ASU simplifies the accounting for adjustments made to provisional amounts recognized in a business combination, the amendments in this ASU eliminate the requirement to retrospectively account for those adjustments. This ASU will be effective beginning in 2016. The adoption of this ASU is not expected to have a material effect on our consolidated financial statements.

There have been no other material changes to the significant accounting policies previously disclosed in the Company’s Registration Statement filed on Form S-1.

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Segment Information (Parenthetical) (Detail) - USD ($) $ in Thousands		3 Months Ended
		Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Adjusted EBITDA	[1]	$ 77,196	$ 61,170
Transaction costs		(350)	(721)
Stock based and deferred compensation		272	(431)
Purchase accounting adjustments		(331)	(476)
Restructuring and severance costs		(2,826)	(704)
(Gain) loss on sale of fixed assets		(194)	64
Impairment charges		(245)
Foreign currency gains (loss)		(2,877)	4,798
Other adjustments to EBITDA		(290)	(1,131)
EBITDA		70,355	62,569
Income tax expense		5,231	3,694
Interest expense		18,729	18,540
Depreciation and Amortization		33,311	33,047
Net income		$ 13,084	$ 7,288

[1] For the three months ended September 30, 2015 2014 Adjusted EBITDA $ 77,196 $ 61,170 Transaction costs (350 ) (721 ) Stock based and deferred compensation 272 (431 ) Purchase accounting adjustments (331 ) (476 ) Restructuring and severance costs (2,826 ) (704 ) (Gain) loss on sale of fixed assets (194 ) 64 Impairment charges (245 ) - Foreign currency gains (loss) (2,877 ) 4,798 Other adjustments to EBITDA (290 ) (1,131 ) EBITDA 70,355 62,569 Income tax expense 5,231 3,694 Interest expense 18,729 18,540 Depreciation and amortization 33,311 33,047 Net income $ 13,084 $ 7,288

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Nature of Business

3 Months Ended

Sep. 30, 2015

Nature of Business

Note 1—Nature of Business

The Company

“MPS” and the “Company” refer to Multi Packaging Solutions International Limited and its controlled subsidiaries. MPS is a leading, global provider of value-added packaging solutions to a diverse customer base across the healthcare, consumer, and multi-media end markets. MPS provides its customers with print-based specialty packaging, including premium-folding cartons, labels and inserts across a variety of substrates and finishes.

Bermuda Reincorporation

On October 7, 2015, 100% of the share capital of Multi Packaging Solutions Global Holdings Limited was acquired by Multi Packaging Solutions International Limited, a company incorporated and organized under the laws of Bermuda, from Chesapeake Finance 1 Limited and Mustang Investment Holdings L.P. The consideration for such acquisition was the issuance of shares in the Company to Chesapeake Finance 1 Limited and Mustang Investment Holdings L.P. In connection with the issuance of shares, the number of shares was increased as a result of the par value changing from one British Pound Sterling to one U.S. dollar.

Stock-split and Initial Public Offering

On October 8, 2015, the Company’s board of directors approved and the Company executed a 1 for 5.08 reverse stock split of its common shares prior to completing its proposed initial public offering. All share and per share data has been presented to reflect this reverse split. On October 27, 2015, the Company completed an initial public offering of its common shares (see Note 17). The Company sold 15,500,000 common shares increasing the common shares outstanding to 77,439,432.

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CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2015	Jun. 30, 2015
Contributed capital, par	$ 1.00	$ 1.00
Contributed capital, shares authorized	1,000,000,000	1,000,000,000
Contributed capital, shares issued	61,939,432	61,939,432
Contributed capital, shares outstanding	61,939,432	61,939,432

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Employee Benefit Plans

3 Months Ended

Sep. 30, 2015

Employee Benefit Plans

Note 11—Employee Benefit Plans

Defined Contribution Plans

The Company maintains various defined contribution benefit plans (the “Plans”). The Plans cover substantially all North America non-union employees and substantially all the European work force of the Company and include provisions for the Company to match a percentage of the employees’ contributions. The matching percentage is determined each year by the Board of Directors or by statutory requirements depending on the country.

Contributions to the Plans were approximately $2,147 and $1,878 for the three months ended September 30, 2015 and 2014, respectively. Contributions are recorded in cost of goods sold and selling, general and administrative expenses in the condensed consolidated statements of operations and comprehensive income (loss).

Defined Benefit Plans

The Company maintains a number of defined benefit pension plans for the benefit of its employees throughout the world, which vary depending on the conditions and practices in the countries concerned. The principal defined benefit pension plan is the Field Group Pension Plan in the United Kingdom. The assets of the plan are held in an external trustee-administered fund. The Company also operates two further defined benefit pension plans in the United Kingdom (known as the Chesapeake pension plan and the GCM pension plan), as well as a number of defined benefit arrangements in France and Germany. The defined benefit pension plans in the United Kingdom are funded while the French and German plans are mainly unfunded. The benefits are based on a fixed rate of pay per year depending on the department worked in and function of the participant. Charges to expense are based upon costs computed by an independent actuary.

For the three months ended September 30, 2015 and 2014, the components of total periodic benefit costs were as follows:

	For the three months ended September 30,
	2015			2014
Components of Net Periodic Benefit Costs:
Service cost	$	898		$	898
Interest cost		6,048			6,405
Expected return on plan assets		(6,806	)		(7,342	)
Net Periodic (Benefit) Cost	$	140		$	(39	)

Other Post-Employment Obligations

The Company operates a post-retirement medical plan (the “Medical Plan”), which is unfunded. The following table presents a summary of the changes in the projected benefit obligation, plan assets and funded status of the Medical Plan which was assumed in the Company’s acquisition of AGI Shorewood for three months ended September 30, 2015:

	For the three months ended September 30, 2015
Components of Net Periodic Benefit Cost
Service cost	$	18
Interest cost		23
Expected return on plan assets		(4	)
Net Periodic Benefit Cost	$	37

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Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2015	Nov. 12, 2015
Document Information [Line Items]
Document Type	10-Q/A
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1
Trading Symbol	MPSX
Entity Registrant Name	Multi Packaging Solutions International Ltd
Entity Central Index Key	0001645926
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		77,439,432

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Restructuring

3 Months Ended

Sep. 30, 2015

Restructuring

Note 12—Restructuring

During November 2013, the Company announced its intention to reorganize its operations and cease operations in its Terre Haute, Indiana, Evansville, Indiana and Fairfield, New Jersey facilities. In September 2015, the Company announced the closure of its facility in Melrose Park, Illinois.

The following is a summary of the activity with respect to a reserve established by the Company in connection with the Restructuring Plan, by category of costs.

	Severance and Employee Related			Costs Associated with Exit or Disposal Activities			Total
Balance at June 30, 2015	$	256		$	776		$	1,032
Restructuring costs		1,548			1,278			2,826
Amounts paid		(247	)		(109	)		(356	)
Balance at September 30, 2015	$	1,557		$	1,945		$	3,502
	Severance and Employee Related			Costs Associated with Exit or Disposal Activities			Total
Balance at June 30, 2014	$	2,060		$	2,250		$	4,310
Restructuring costs		—			—			—
Amounts paid		(243	)		(220	)		(463	)
Balance at September 30, 2014	$	1,817		$	2,030		$	3,847

These charges are recorded in cost of goods sold in the accompanying condensed consolidated statements of operations and comprehensive income (loss) for the three months ended September 30, 2015 and 2014 and are included within the North America segment. Accrued restructuring costs are included in other current liabilities on the condensed consolidated balance sheets.

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Net sales	$ 459,051	$ 394,082
Cost of goods sold	359,710	311,699
Gross margin	99,341	82,383
Selling, general and administrative expenses
Selling, general and administrative expenses	58,312	55,459
Transaction related expenses	350	721
Total selling, general and administrative expenses	58,662	56,180
Operating income	40,679	26,203
Other income (expense)
Other (expense) income, net	(3,635)	3,319
Interest expense	(18,729)	(18,540)
Total other expense, net	(22,364)	(15,221)
Income before income taxes	18,315	10,982
Income tax expense	5,231	3,694
Net income	13,084	7,288
Less : Net income attributable to noncontrolling interest	77	281
Net income attributable to Multi Packaging Solutions International Limited	$ 13,007	$ 7,007
Earnings per share
Basic	$ 0.21	$ 0.11
Diluted	$ 0.21	$ 0.11
Weighted-average number of common shares outstanding:
Basic	61,939,432	61,939,432
Diluted	61,939,432	61,939,432
Other comprehensive income (loss)
Cumulative foreign currency translation adjustment	$ (9,692)	$ (18,195)
Adjustment on available-for-sale securities	(17)	19
Pension adjustments	792	(339)
Total other comprehensive loss	(8,917)	(18,515)
Comprehensive income (loss)	4,090	(11,508)
Less: Comprehensive income attributable to non-controlling interests	12	83
Comprehensive income attributable to Multi Packaging Solutions International Limited	$ 4,078	$ (11,591)

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Goodwill

3 Months Ended

Sep. 30, 2015

Goodwill

Note 6—Goodwill

The changes in the carrying value of goodwill by reportable segment are as follows:

	North America		Europe			Asia			Total
Balance at June 30, 2015	$	250,784	$	223,275		$	842		$	474,901
Acquisition of BluePrint		—		965			—			965
Impact of foreign exchange		—		(3,928	)		(4	)		(3,932	)
Balance at September 30, 2015	$	250,784	$	220,312		$	838		$	471,934

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Intangible Assets

3 Months Ended

Sep. 30, 2015

Intangible Assets

Note 5—Intangible Assets

Intangible assets consisted of the following:

September 30, 2015	Gross Carrying Amount		Accumulated Amortization			Net		Estimated Useful Life (Years)
Customer relationships	$	477,686	$	(90,101	)	$	387,585		14
Developed technology		19,039		(6,080	)		12,959		5
Photo library		1,287		(466	)		821		5
Licensing agreements		4,195		(651	)		3,544		4
Total	$	502,207	$	(97,298	)	$	404,909
June 30, 2015	Gross Carrying Amount		Accumulated Amortization			Net		Estimated Useful Life (Years)
Customer relationships	$	479,778	$	(78,457	)	$	401,321		14
Developed technology		19,907		(5,508	)		14,399		5
Photo library		1,259		(403	)		856		5
Licensing agreements		3,524		(367	)		3,157		4
Total	$	504,468	$	(84,735	)	$	419,733

Amortization expense on definite lived intangible assets for the three months ended September 30, 2015 and 2014 was $14,064 and $13,631, respectively.

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Subsequent Events

3 Months Ended

Sep. 30, 2015

Subsequent Events

Note 17—Subsequent Events

On October 7, 2015, the Company made a voluntary prepayment of $25,000 of its GBP denominated term debt from existing cash balances.

On October 27, 2015, the Company completed its initial public offering of 16,500,000 common shares at a price of $13.00 per share. In connection with the offering, funds controlled by Carlyle and certain current and former employees, sold 1,000,000 common shares. The underwriters also have exercised their rights to purchase an additional 2,475,000 common shares from certain of the selling shareholders, including investment funds controlled by Madison Dearborn and Carlyle, at the public offering price, less the underwriting discount. The Company did not receive any of the proceeds from the shares sold by The Carlyle Group or from the exercise of the underwriters’ option.

On October 27, 2015, the Company adopted Multi Packaging Solutions International Limited 2015 Incentive Award Plan (the “2015 Plan”) and has filed a Registration Statement on Form S-8 to register 9,000,000 of its common shares. The adoption of the 2015 Plan will facilitate the grant of equity-based incentives to the Company’s directors, employees and consultants, and to enable the Company to obtain and retain the services of these individuals.

On October 29, 2015, the Company paid down approximately $182,400 of term debt from the proceeds from its initial public offering.

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Commitments and Contingencies

3 Months Ended

Sep. 30, 2015

Commitments and Contingencies

Note 13—Commitments and Contingencies

The Company is involved in various proceedings, legal actions and claims arising in the normal course of business. Such matters are subject to many uncertainties, and outcomes are not predictable with assurance. The Company records amounts for losses that are deemed to be probable and subject to reasonable estimate. The Company does not anticipate losses as a result of these proceedings that would materially affect the Company’s consolidated financial statements.

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Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Sep. 30, 2015

Accumulated Other Comprehensive Income (Loss)

Note 9—Accumulated Other Comprehensive Income (Loss)

The change in accumulated other comprehensive income (loss) for the three months ended September 30, 2015 and 2014 is as follows:

	Foreign Currency Translation Adjustments			Available for Sale Securities			Pension Adjustments			Total
Balance as of June 30, 2015	$	(33,045	)	$	15		$	19,743		$	(13,287	)
Other Comprehensive income (loss) before reclassifications		(9,633	)		(17	)		792			(8,858	)
Balance as of September 30, 2015	$	(42,678	)	$	(2	)	$	20,535		$	(22,145	)
	Foreign Currency Translation Adjustments			Available for Sale Securities			Pension Adjustments			Total
Balance as of June 30, 2014	$	5,919		$	9		$	6,963		$	12,891
Other Comprehensive income (loss) before reclassifications		(18,195	)		19			(339	)		(18,515	)
Balance as of September 30, 2014	$	(12,276	)	$	28		$	6,624		$	(5,624	)

There were no amounts reclassified from accumulated other comprehensive income during the three months ended September 30, 2015 and 2014.

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Schedule of Share-based Payment Award Valuation Assumptions (Detail) - 2014 Plan - Time vesting profit interests - $ / shares	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	4 years 3 months 4 days	6 years 3 months
Expected volatility	41.00%	46.58%
Risk-free rate	1.20%	2.13%
Expected dividends	0.00%	0.00%
Weighted average fair-value at end of period of all profits interest issued under the 2014 plan	$ 10.54	$ 4.77

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Fair Value of Financial Instruments

3 Months Ended

Sep. 30, 2015

Fair Value of Financial Instruments

Note 7—Fair Value of Financial Instruments

The following table sets forth the Company’s financial assets and liabilities carried at fair value on a recurring basis by level within the fair value hierarchy:

As of September 30, 2015	Level 1		Level 2			Level 3		Total
Assets:
Cash and cash equivalents	$	75,279	$	—		$	—	$	75,279
Restricted cash		1,994		—			—		1,994
Available for sale securities		236		—			—		236
Foreign currency contracts		—		34			—		34
Liabilities:
Interest rate swap		—		(3,015	)		—		(3,015	)
As of June 30, 2015	Level 1		Level 2			Level 3		Total
Assets:
Cash and cash equivalents	$	55,675	$	—		$	—	$	55,675
Restricted cash		1,985		—			—		1,985
Available for sale securities		253		—			—		253
Foreign currency contracts				57					57
Liabilities:
Interest rate swap		—		(2,988	)		—		(2,988	)
Foreign currency swap		—		(34	)		—		(34	)

As of September 30, 2015 and June 30, 2015, the fair value of the bonds payable, due August 2021, was $209,000 and $204,000, respectively and the carrying value was $196,477 and $196,327, respectively. The bonds payable fair value was determined using quoted market prices (level 2).

The fair value of interest rate swap contracts are indicative values based on mid-market levels as of the close of business on the balance sheet date. The valuations are derived from the banks’ proprietary models based upon well-recognized financial principles and reasonable estimates about relevant future market conditions.

The Company maintains two amortizing interest rate swaps that mature in December 2017. The swaps are being used to hedge the exposure to changes in the market LIBOR or EURIBOR rates. At September 30, 2015, one of the swaps had a notional amount of $175,902 whereby the Company pays a fixed rate of interest of 1.1649% and receives a variable rate based on LIBOR on the amortizing notional amount. This swap had a fair value of $251 and is included in other long term liabilities on the consolidated balance sheets. The other swap had a notional amount of $150,360; whereby the Company pays a fixed rate of interest of 1.0139% and receives a variable rate based on EURIBOR (Euro Interbank Offered Rate) on the amortizing notional amount. This swap had a fair value of $2,763 and is included in other long-term liabilities on the condensed consolidated balance sheets.

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Other Income (Expense), net

3 Months Ended

Sep. 30, 2015

Other Income (Expense), net

Note 8—Other Income (Expense), net

Other income (expense), net is comprised of the following for the three months ended September 30, 2015 and 2014:

	For the three months ended September 30,
	2015			2014
Equity in net earnings of unconsolidated entities	$	—		$	39
Loss on derivatives		(755	)		(1,626	)
Foreign currency (losses) gains		(2,877	)		4,798
Other (loss) income		(3	)		108
Other (Expense) Income, net	$	(3,635	)	$	3,319

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Income Taxes

3 Months Ended

Sep. 30, 2015

Income Taxes

Note 10—Income Taxes

For the three months ended September 30, 2015 and 2014, the effective tax rates, including discrete items, attributable to continuing operations were as follows:

	Three months ended September 30,
	2015			2014
Effective tax rate provision		28.6	%		33.6	%

Our effective tax rate was lower than the U.S. federal statutory rate primarily due to earnings taxed at lower rates in foreign jurisdictions. The differences in the effective tax rates for the three months ended September 30, 2015 and 2014 compared to statutory rates are primarily due to the mix and levels between United States and foreign earnings.

During the three months ended September 30, 2015, there were no significant changes to the Company’s uncertain tax positions.

As of September 30, 2015, the Company is under tax audit in Mexico for 2008, the United States for 2012-2014 and Canada for 2012-2014. The Company has been indemnified for all taxes payable and unrecognized tax positions by ASG from the prior owners for the audits in Mexico and Canada.

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Segments - Additional Information (Detail)	3 Months Ended
	Sep. 30, 2015 Segment
Segment Reporting Information [Line Items]
Number of operating segments	3

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Summary of Gross Sales Estimated by Product category (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Revenue from External Customer [Line Items]
Gross sales	$ 499,168	$ 419,210
Sales Reserves and Eliminations	(40,117)	(25,128)
Total Sales	459,051	394,082
Premium Folding Cartons
Revenue from External Customer [Line Items]
Gross sales	311,621	261,289
Inserts
Revenue from External Customer [Line Items]
Gross sales	65,575	58,623
Labels
Revenue from External Customer [Line Items]
Gross sales	33,769	34,172
Rigid Packaging
Revenue from External Customer [Line Items]
Gross sales	34,263	9,543
Other Consumer Products
Revenue from External Customer [Line Items]
Gross sales	$ 53,940	$ 55,583

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Restricted Capital Interests Activity (Detail) - 2014 Plan - Restricted Stock Units (RSUs) - $ / shares	3 Months Ended	12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015
Shares Subject to RSU's
Outstanding at beginning of period	528,500
Outstanding at end of period	528,500	528,500
Weighted Average Exercise Price
Outstanding at beginning of period	$ 10.00
Outstanding at end of period	$ 10.00	$ 10.00
Weighted Average Remaining Contractual Life (Years)
Outstanding at beginning of period	8 years	8 years 3 months 18 days

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Employee Benefit Plans (Tables)

3 Months Ended

Sep. 30, 2015

Pension Plan

Net Periodic Benefit Cost

For the three months ended September 30, 2015 and 2014, the components of total periodic benefit costs were as follows:

	For the three months ended September 30,
	2015			2014
Components of Net Periodic Benefit Costs:
Service cost	$	898		$	898
Interest cost		6,048			6,405
Expected return on plan assets		(6,806	)		(7,342	)
Net Periodic (Benefit) Cost	$	140		$	(39	)

Other Post-Employment Obligations

Net Periodic Benefit Cost

The following table presents a summary of the changes in the projected benefit obligation, plan assets and funded status of the Medical Plan which was assumed in the Company’s acquisition of AGI Shorewood for three months ended September 30, 2015:

	For the three months ended September 30, 2015
Components of Net Periodic Benefit Cost
Service cost	$	18
Interest cost		23
Expected return on plan assets		(4	)
Net Periodic Benefit Cost	$	37

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Accumulated Other Comprehensive Income (Loss) - Additional Information (Detail)	3 Months Ended
	Sep. 30, 2015 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive income	$ 0

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Stock Based Compensation

3 Months Ended

Sep. 30, 2015

Stock Based Compensation

Note 15—Stock Based Compensation

Performance Based Units

In connection with Carlyle’s acquisition of Chesapeake, certain members of Chesapeake’s management were allowed to co-invest with Carlyle in an entity controlled by Carlyle that holds an investment in the Company. At the time of the grant, those members of management that invested alongside Carlyle received a specified number of common shares, which were subject to a performance-based ratchet (the “Ratchet”). Pursuant to the Ratchet, members of management’s ownership percentage can increase based on Chesapeake completing an “Exit” that results in a specified return on invested capital (“MOIC”) and internal rate of return (“IRR”) for certain investors. An Exit is defined as the completion of a liquidating event, which includes the completion of an initial public offering (“IPO”). Since a liquidity event, including an IPO, is generally not probable until it occurs, no compensation cost has been recognized in the financial statements for the three months ended September 30, 2015 and 2014. On October 27, 2015, the Company completed its IPO (see Note 17) and accordingly the performance-based units vested and the Company expects that it will recognize stock based compensation expense of approximately $9,100 during the three and six months ended December 31, 2015.

2014 Equity Incentive Plan (Mustang Investment Holdings L.P.)

The 2014 Equity Incentive Plan (the “2014 Plan”) allows profits interests and restricted capital interests in Mustang Investment Holdings L.P. (“Holdings”) to be granted to directors, officers and employees of the Company. During the three months ended September 30, 2015 and 2014, Holdings did not issue any time-vesting profits interests or performance-vesting profits interests. Time-vesting profits interests vest twenty percent per year on each of the first five anniversaries of August 15, 2013, as per the applicable award agreement. All performance-vesting profits interests vest based on Holdings’ principal investors obtaining various thresholds of an internal rate of return as defined in the 2014 Plan, which represents a performance condition. The performance condition is not probable of being achieved, and accordingly, no compensation expense related to the performance-vesting profits interests has been recorded.

The Company recognized compensation expense related to awards under the 2014 Plan as follows:

	For the three months ended September 30,
	2015			2014
Time vesting profit interests	$	(275	)	$	177
Time vesting restricted capital interests		(139	)		113
Total	$	(414	)	$	290

Since the profits interests issued under the 2014 Plan are for interests in Holdings, which is outside of the consolidated group, the value of the profits interests were marked to market at each of the Company’s reporting periods. On October 27, 2015, the Company completed its IPO (see Note 17), in connection with the IPO the performance-vesting units vested and the Company accelerated the vesting of the time-vesting profits interest. The Company expects that it will recognize stock based compensation expense of approximately $16,600 during the three and six months ended December 31, 2015.

2014 Plan—Profits Interests Valuation

As an input to the Black-Scholes model, and for valuation of the profits interest and restricted capital interest awards, the Company estimates the fair value of Holdings equity quarterly. The Company relies on the results of a discounted cash flow analysis but also considers other widely recognized valuation models. The discounted cash flow analysis is dependent on a number of significant management assumptions regarding the expected future financial results of the Company and Holdings as well as upon estimates of an appropriate cost of capital. A sensitivity analysis is performed in order to establish a narrow range of estimated fair values for the equity of Holdings. The market approach consists of identifying a set of guideline public companies. Multiples of historical and projected EBITDA determined based on the guideline companies are applied to Holdings EBITDA in order to establish a range of estimated fair value for the equity of Holdings. After considering all of these estimates of fair value, the Company then determines a single estimated fair value of the equity to be used in accounting for equity-based compensation.

For profits interests issued under the 2014 Plan the Company calculates the estimated fair value of each award on the date of grant using the Black–Scholes option valuation model that uses the assumptions noted in the table below and considers a lack of marketability discount. Currently, there is no active market for Holding’s equity. Therefore, as a substitute for Holding’s volatility, the Company has elected to use the historical volatility of various publically traded companies in the printing industry. The Company has used the historical volatilities of these entities to estimate volatility. The Company uses historical data to estimate employee terminations within the valuation model. The expected term of profits interests granted is derived from the output of the option valuation model and represents the period of time that profits interests granted are expected to be outstanding. The risk-free rate for periods within the life of the profits interests is based on the U.S. Treasury yield curve in effect at the time of grant.

	For the three months ended September 30,
	2015			2014
Expected term		4.26			6.25
Expected volatility		41.00	%		46.58	%
Risk-free rate		1.20	%		2.13	%
Expected dividends		—			—
Weighted average fair-value at end of period of all profits interest issued under the 2014 plan	$	10.54		$	4.77

Total unrecognized compensation expense related to unvested profit interests at September 30, 2015 amounted to $5,452 and is expected to be recognized over a weighted average period of 3.25 years.

Profits interests activity under the 2014 Plan summarized as follows:

	Incentive Units Subject to Profits Interests		Weighted Average Exercise Price (or Distribution Threshold)		Weighted Average Remaining Life (Years)
Balance Outstanding at June 30, 2015		1,604,500	$	10.94		8.3
Profits interests granted pursuant to the 2014 Plan		—		—		—
Profits interests expired/cancelled/repurchased		—		—		—
Balance Outstanding September 30, 2015		1,604,500		10.94		8.0
Balance Vested at September 30, 2015		585,400	$	10.00		8.0

2014 Plan—Restricted Capital Interests Valuation

For Restricted Capital Interests issued under the 2014 Plan the Company calculates the estimated fair value of each award using the Black-Scholes option valuation model that uses the assumptions noted in the table below and considers a lack of marketability discount. Currently, there is no active market for Holding’s equity. Therefore, as a substitute for Holding’s volatility, the Company has elected to use the historical volatility of various publically traded companies in the printing industry. The Company uses historical data to estimate employee terminations within the valuation model. The expected term of profits interests granted is derived from the output of the option valuation model and represents the period of time that profits interests granted are expected to be outstanding. The risk-free rate for periods within the life of the profits interests is based on the U.S. Treasury yield curve in effect at the time of grant.

	For the three months ended September 30,
	2015			2014
Expected term		4.26			6.25
Expected volatility		41.00	%		46.58	%
Risk-free rate		1.20	%		2.13	%
Expected dividends		—			—
Weighted average fair-value at end of period of all profits interest issued under the 2014 plan	$	11.23		$	4.77

Restricted capital interests activity under the 2014 Plan is summarized as follows:

	Shares Subject to RSU’s		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
Balance Outstanding at June 30, 2015		528,500	$	10.00		8.3
Balance Outstanding at September 30, 2015		528,500	$	10.00		8.0

There were no restricted capital interests expired, cancelled or repurchased during the periods presented.

Total unrecognized compensation expense related to unvested restricted capital interests at September 30, 2015 was $3,415 and is expected to be recognized over a weighted average period of 3.25 years.

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Acquisitions (Tables)

3 Months Ended

Sep. 30, 2015

AGI Shorewood

Preliminary Purchase Price Allocation to Assets Acquired and Liabilities Assumed

Adjustments may be made to the estimated fair values during the measurement period as the Company’s obtains additional information.

Assets
Cash and cash equivalents	$	19,401
Accounts receivable		76,435
Inventories		33,312
Prepaid expenses and other current assets		6,795
Deferred income taxes		15,256
Property, plant and equipment		49,219
Other long-term assets		3,610
Less: Liabilities
Current liabilities		(63,666	)
Other long-term liabilities		(6,568	)
Preliminary purchase price	$	133,794

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Other income (expense), Net (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Other Income Expense [Line Items]
Equity in net earnings of unconsolidated entities		$ 39
Loss on derivatives	$ (755)	(1,626)
Foreign currency (losses) gains	(2,877)	4,798
Other (loss) income	(3)	108
Other (Expense) Income, net	$ (3,635)	$ 3,319

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Acquisitions - Additional Information (Detail) - USD ($)				3 Months Ended
	Jul. 01, 2015	Nov. 21, 2014	Jun. 09, 2011	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Business Acquisition [Line Items]
Restricted cash				$ 1,994,000		$ 1,985,000
AGI Shorewood
Business Acquisition [Line Items]
Aggregate purchase price in cash		$ 133,794,000
Adjustment to preliminary purchase price allocation, reduction in liabilities				(464,000)
Adjustment to preliminary purchase price allocation, reduction in property, plant and equipment				(464,000)
Blue Print Media Limited
Business Acquisition [Line Items]
Date of business acquisition	Jul. 01, 2015
CD Cartondruck AG
Business Acquisition [Line Items]
Business acquisition earn out recognized to date			$ 2,136,000	$ 0		0
Business acquisition, contingent consideration recording basis				The value of the contingent consideration is being recorded as future compensation expense on a straight-line basis over the period of a required employment agreement.
Compensation expense				$ 107,000	$ 107,000
Restricted cash				$ 1,994,000		$ 1,985,000
Business acquisition minimum additional payment based on cumulative earnings before interest, taxes, depreciation and amortization			0
Business acquisition maximum additional payment based on cumulative earnings before interest, taxes, depreciation and amortization			$ 3,475,000
Business acquisition earn out achieved Period			5 years

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CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS EQUITY - 3 months ended Sep. 30, 2015 - USD ($) $ in Thousands	Total	Common Shares	Additional Paid-in Capital	Retained Earnings	AOCI Attributable to Parent	Noncontrolling Interest
Beginning Balance (in shares) at Jun. 30, 2015		61,939,432
Beginning Balance at Jun. 30, 2015	$ 288,690	$ 61,939	$ 278,695	$ (45,365)	$ (13,287)	$ 6,708
Net income	13,084			13,007		77
Stock compensation	(414)		(414)
Fair market value adjustment on available-for-sale securities	(17)				(17)
Pension adjustments, net	792				792
Foreign currency translation adjustment	(9,692)				(9,633)	(59)
Ending Balance (in shares) at Sep. 30, 2015		61,939,432
Ending Balance at Sep. 30, 2015	$ 292,443	$ 61,939	$ 278,281	$ (32,358)	$ (22,145)	$ 6,726

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Inventories

3 Months Ended

Sep. 30, 2015

Inventories

Note 4—Inventories

Inventories consisted of the following:

	As of September 30, 2015			As of June 30, 2015
Raw materials	$	57,778		$	60,549
Work in progress		31,177			28,677
Finished goods		100,675			104,658
Total inventories		189,630			193,884
Reserves		(21,725	)		(22,048	)
Inventories	$	167,905		$	171,836

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Stock Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2015
2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		5 years
Award vesting rights, description		Time-vesting profits interests vest twenty percent per year on each of the first five anniversaries of August 15, 2013, as per the applicable award agreement.
2014 Plan | Share-based Compensation Award, 1st Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage		20.00%
2014 Plan | Share-based Compensation Award, 2nd Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage		20.00%
2014 Plan | Share-based Compensation Award, 3rd Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage		20.00%
2014 Plan | Share-based Compensation Award, 4th Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage		20.00%
2014 Plan | Share-based Compensation Award, 5th Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage		20.00%
Equity Incentive Plan Twenty Fourteen | Scenario, Forecast
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	$ 16,600			$ 16,600
Time vesting profit interests | 2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense		$ 5,452
Unrecognized compensation expense, net, weighted average period		3 years 3 months
Restricted Stock Units (RSUs) | 2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense		$ 3,415
Unrecognized compensation expense, net, weighted average period		3 years 3 months
Expired, canceled, or repurchased shares		0
Performance Based Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation		$ 0	$ 0
Performance Based Units | Scenario, Forecast
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	$ 9,100			$ 9,100

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Subsequent Events - Additional Information (Detail) - Subsequent Event - USD ($) $ / shares in Units, $ in Thousands	Oct. 29, 2015	Oct. 27, 2015	Oct. 07, 2015
Subsequent Event [Line Items]
Repayment of term debt	$ 182,400		$ 25,000
Initial public offering share of common stock issued		16,500,000
Common stock issued price per share		$ 13.00
Common shares sold by Carlyle and certain current and former employees		1,000,000
Number of shares of common stock attributable to exercise of underwriters option to purchase		2,475,000
2015 Plan
Subsequent Event [Line Items]
Incentive Plan, share authorized		9,000,000

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Inventories (Tables)

3 Months Ended

Sep. 30, 2015

Inventories

Inventories consisted of the following:

	As of September 30, 2015			As of June 30, 2015
Raw materials	$	57,778		$	60,549
Work in progress		31,177			28,677
Finished goods		100,675			104,658
Total inventories		189,630			193,884
Reserves		(21,725	)		(22,048	)
Inventories	$	167,905		$	171,836

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Nature of Business - Additional Information (Detail)	Oct. 27, 2015 shares	Oct. 08, 2015	Oct. 07, 2015	Sep. 30, 2015 shares	Jun. 30, 2015 shares
Organization And Nature Of Business [Line Items]
Common shares outstanding				61,939,432	61,939,432
Subsequent Event
Organization And Nature Of Business [Line Items]
Reverse stock split, description		On October 8, 2015, the Company's board of directors approved and the Company executed a 1 for 5.08 reverse stock split of its common shares prior to completing its proposed initial public offering.
Reverse stock split, ratio		0.197
Common shares, sold	16,500,000
Subsequent Event | initial public offering
Organization And Nature Of Business [Line Items]
Common shares, sold	15,500,000
Common shares outstanding	77,439,432
Subsequent Event | Multi Packaging Solutions Global Holdings Limited
Organization And Nature Of Business [Line Items]
Ownership interest percentage			100.00%

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Related Party Transactions

3 Months Ended

Sep. 30, 2015

Related Party Transactions

Note 14—Related Party Transactions

On February 13, 2014 the Company loaned CEP III Chase Finance S.à r.l., an entity owned by The Carlyle Group (“Carlyle”), and Mustang Intermediate Investments S.à r.l., an entity owned by Madison Dearborn Partners, each $1,677 to enable them to purchase 5.1% of the outstanding capital stock of CD Cartondruck GmbH. The notes bear interest at a rate of 2.0%, compounded annually, and had a maturity date of February 14, 2015. The loan automatically renews for one year periods unless terminated through a written notice no less than four weeks prior to maturity. The $3,354 note receivable is recorded in other assets on the consolidated balance sheet as of September 30, 2015 and June 30, 2015. On October 8, 2015, the Company purchased Lux Newco for the value of the note plus interest and the transaction with Lux Finco was cancelled. As of October 8, 2015, the Company now owns 100% of the outstanding capital stock of CD Cartondruck GmBH.