Reuters – Onex Plans to Sell 50% of RSI Home

Canadian private equity firm Onex Corp. said on Monday it plans to sell its 50 percent stake in RSI Home Products back to the privately held company for about $323 million, Reuters wrote. Onex said its investment in RSI, which manufactures kitchen and bathroom cabinets, has generated significant returns for its fund. Onex invested $318 million in RSI in October 2008. Following the close of the sale, Onex will have received total proceeds of about $471 million from RSI, including prior distributions.

(Reuters) – Canadian private equity firm Onex Corp said on Monday it plans to sell its 50 percent stake in RSI Home Products back to the privately held company for about $323 million.

Onex said its investment in RSI, which manufactures kitchen and bathroom cabinets, has generated significant returns for its fund.

Onex invested $318 million in RSI in October 2008. Following the close of the sale, Onex will have received total proceeds of about $471 million from RSI, including prior distributions.

Toronto-based Onex said it expects the deal to close by the end of March, subject to closing conditions, including a financing condition for the benefit of RSI.