Press release from Marketwire
ONCAP Completes Sale of Caliber Collision Centers
Wednesday, November 20, 2013
ONCAP Completes Sale of Caliber Collision Centers18:00 EST Wednesday, November 20, 2013
TORONTO, ONTARIO--(Marketwired - Nov. 20, 2013) -
All amounts in U.S. dollars unless otherwise stated
Onex Corporation (together with affiliates, "Onex") (TSX:OCX) today announced that ONCAP II has completed the sale of Caliber Collision Centers ("Caliber"), one of the largest repair operators in the U.S., to OMERS Private Equity ("OMERS"). This transaction resulted in a multiple of capital invested of about 7.5 times.
"This is a great outcome for everyone involved," said Michael Lay, Managing Partner of ONCAP. "We have enjoyed a very successful partnership with the Caliber team resulting in considerable growth for the business over the past five years. We wish CEO Steve Grimshaw and the entire Caliber team continued success in their new partnership with OMERS as they enter their next phase of growth."
ONCAP is the mid-market private equity platform of Onex. ONCAP, in partnership with operating company management teams, invests in and builds shareholder value in North American small and mid-size companies that are leaders in their defined market niche and possess meaningful growth potential. For more information on ONCAP, visit its website at www.oncap.com.
With offices in Toronto, New York and London, Onex is one of the oldest and most successful private equity firms. Onex acquires and builds high-quality businesses in partnership with talented management teams. The Company has approximately $16 billion of assets under management, including $5 billion of Onex capital, in private equity, credit securities and real estate. Onex invests its capital directly and as the largest limited partner in each of its Funds.
Onex' businesses have assets of $44 billion, generate annual revenues of $34 billion and employ approximately 229,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at www.onex.com. The Company's security filings can also be accessed at www.sedar.com.
This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.
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