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.
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