ONCAP has acquired a majority stake in Komar Industries, a Groveport, Ohio-based designer and manufacturer of industrial waste and recycling processing systems. No financial terms were disclosed. ONCAP is the mid-market investment arm of Canadian private equity firm Onex Corp.
TORONTO and GROVEPORT, Ohio, June 02, 2021 (GLOBE NEWSWIRE) — ONCAP today announced it has purchased a majority stake in Komar Industries, Inc. (“Komar” or the “Company”), in partnership with the Koenig family.
Headquartered in Groveport, OH, Komar is a leading designer and manufacturer of industrial waste and recycling processing systems. The Company specializes in auger processing technology and provides a comprehensive portfolio of products, including auger compactors, industrial shredders, continuous feed systems, flatteners / dewatering systems, and organic separation presses. Established in 1977, and still managed by the founding Koenig family, Komar’s products enable its customers to improve their processing of waste streams (e.g. corrugate, wood, e-waste, organics) while reducing their carbon footprint and their transportation, energy, maintenance, and labor costs.
“Komar is a market leader due to a relentless focus on manufacturing excellence, innovation, advanced engineering expertise, exceptional customer service and safety. We’re thrilled to be aligned with a team doing its part to safely and efficiently process waste and help its customers achieve their corporate sustainability goals,” said Stephen Marshall, a Principal with ONCAP. “Further, we’re excited to partner with Mark Koenig and the entire Komar team to build upon the entrepreneurial spirit and vision that Larry Koenig created more than 40 years ago.”
“The Koenig family is excited to continue the next chapter of Komar in partnership with the ONCAP team. Komar has seen significant growth over the last several years as it continues to innovate new product and service offerings. The experience and resources ONCAP brings to the partnership will be instrumental as we continue to expand the platform. The level of professionalism, resources and vision the ONCAP team showed during the entire process gave our family the confidence that they were the right partner for Komar,” said Mark Koenig President of Komar.
The investment was made by ONCAP IV, Onex Corporation’s (TSX:ONEX) $1.1 billion fund. The terms of the transaction are not being disclosed.
ONCAP is the mid-market private equity platform of Onex. In partnership with operating company management teams, ONCAP invests in and builds value in North American headquartered small- and medium-sized businesses that are market leaders and possess meaningful growth potential. For more information on ONCAP, visit its website at www.oncap.com.
Founded in 1984, Onex manages and invests capital on behalf of its shareholders, institutional investors and high net worth clients from around the world. Onex’s platforms include: Onex Partners, private equity funds focused on mid- to large-cap opportunities in North America and Western Europe; ONCAP, private equity funds focused on middle market and smaller opportunities in North America; Onex Credit, which manages primarily non-investment grade debt through tradeable, private and opportunistic credit strategies as well as actively managed public equity and public credit funds; and Gluskin Sheff’s wealth management services. In total, as of March 31, 2021, Onex has approximately $45 billion of assets under management, of which approximately $7.2 billion is its own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.
The Onex Partners and ONCAP businesses have assets of $41 billion, generate annual revenues of $24 billion and employ approximately 146,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com . Onex’ security filings can also be accessed at www.sedar.com .
About Komar Industries, Inc.
Komar Industries, Inc. is the leading industry expert when it comes to auger processing technology. With a relentless focus on continuous improvement through engineering, manufacturing, and service, Komar has spent the last forty years perfecting its industrial waste and recycling processing equipment to serve a wide range of applications. Adopted by manufacturers, fulfillment and distribution centers, recyclers, retail warehouses, and many other operations, Komar’s products are recognized for their reliability, efficiency, and longevity. For more information, visit www.komarindustries.com .