ONCAP, the mid-market investment arm of Canadian private equity firm Onex Corp, has completed its sale of Tecta America Corp, a Rosemont, Illinois-based provider of commercial roofing services in the United States.
No financial terms were disclosed for the deal, which was announced last month.
The buyer was Altas Partners, a Canadian long-term private equity firm.
ONCAP acquired a majority interest in Tecta two years ago from U.S. private equity firm Oaktree Capital Management. The deal, valued at US$280 million, saw ONCAP invest US$124 million.
ONCAP Completes Sale of Tecta America
TORONTO, Nov. 21, 2018 (GLOBE NEWSWIRE) — Onex Corporation (“Onex”) (TSX: ONEX) today announced that ONCAP has completed the sale of Tecta America Corporation, a national leader in commercial roofing services in the U.S. The terms of the transaction were not 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 medium-sized businesses that are leaders and possess meaningful growth potential. For more information on ONCAP, visit its website at www.oncap.com.
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. Onex has more than $33 billion of assets under management, including $6.9 billion of Onex proprietary capital, in private equity and credit securities. With offices in Toronto, New York, New Jersey and London, Onex and the team are collectively the largest investors across Onex’ platforms.
Onex’ businesses have assets of $52 billion, generate annual revenues of $32 billion and employ approximately 218,000 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.
For further information:
Director, Investor Relations