Onex Corp. said Wednesday that it completed its $813 million buy of SGS International. Onex Partners III invested $260 million in the deal, while Onex’ share, as an LP, was $66 million. Louisville, Kentucky-based SGS provides packaging graphic services to branded consumer products companies, retailers and the printers that service them.
Onex Corporation (“Onex”) (TSX:OCX) today announced that it has completed the acquisition of SGS International, Inc. (“SGS”), a global leader in design-to-print graphic services to the consumer products packaging industry, for $813 million. Onex Partners III invested $260 million, of which Onex’ share was $66 million as a limited partner in the Fund. Including this transaction and the recently announced acquisition of KraussMaffei, the Fund will be approximately 60% invested.
“We’re delighted to be working with the SGS team to build on the company’s market leadership position,” said David Mansell, an Onex Managing Director. “SGS has tremendous growth potential through international expansion, complementary services and add-on acquisitions.”
Based in Louisville, Kentucky, SGS is a vertically-integrated provider of packaging graphic services to branded consumer products companies, retailers and the printers that service them. SGS provides critical services that ensure customers are able to obtain or produce consistent, high-quality packaging materials, often on short turnaround times. The company has over 2,400 employees spanning a network of 38 production facilities and more than 100 on-site customer locations across 17 countries.
Onex is one of North America’s oldest and most successful private equity firms committed to acquiring and building high-quality businesses in partnership with talented management teams. Onex manages investment platforms focused on private equity, real estate and credit securities. In total, the Company manages approximately $14 billion, of which $9 billion is third-party capital. Onex invests its approximately $5 billion of proprietary capital directly and as a substantial limited partner in its Funds.
Onex’ businesses have assets of $39 billion, generate annual revenues of $34 billion and employ approximately 235,000 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.
About SGS International
SGS International is a global leader in the digital imaging industry. SGS offers design-to-print graphic services to the international consumer products packaging industry primarily in North America, Europe and Asia. SGS provides a full spectrum of innovative digital solutions that streamline the capture, management, execution and distribution of graphics information. Brand development, creative design, prepress, image carriers and print support services are utilized in each of the three main printing processes: flexography, gravure and lithography. The company provides critical services that ensure customers are able to obtain or produce consistent, high-quality packaging materials often on short turnaround times. To learn more about SGS, please visit www.sgsintl.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.