Onex Corporation has acquired Laces Group, a provider of home fashions operating under the Maytex and Banyo–Decolin brands, with offices in New York, Montreal, and China. The deal was made in partnership with Laces Group’s current management team. The company has been backed by Fondaction and Novacap since 2014. Financial terms were not disclosed; however, the investment was made by ONCAP IV, Onex’s US$1.1 billion fund.
TORONTO, Dec. 28, 2017 (GLOBE NEWSWIRE) — Onex Corporation (“Onex”) (TSX:ONEX) today announced ONCAP has acquired Laces Group Inc. (“Laces Group”), in partnership with the existing management team. Laces Group is a leading designer, manufacturer and marketer of bath accessories and home fashion products.
The investment was made by ONCAP IV, Onex’ US$1.1 billion fund. 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 market 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 US$30 billion of assets under management, including US$6.7 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 US$45 billion, generate annual revenues of US$30 billion and employ approximately 161,000 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.
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.
For further information:
Director, Investor Relations