The Onex Group made a $318 million preferred equity investment in RSI in October 2008. The Onex Group has received proceeds of $471 million, including prior distributions, which results in a multiple of invested capital of approximately 1.5 times and an 11% rate of return. Onex’ portion of the proceeds is $186 million, including the prior distributions.
RSI Home Products is a manufacturer of kitchen and bath cabinetry sold through home centers, kitchen and bath dealers, and other distributors. RSI employs approximately 4,000 people in its facilities in California, Kansas, North Carolina, Texas, Mexico and China. The company is headquartered in Anaheim, CA (www.rsiholdingcorp.com).
Onex Corporation makes private equity investments through the Onex Partners and the ONCAP families of funds. Onex has more than $14 billion of assets under management and is based in Toronto (www.onex.com).
“We’re pleased to have invested alongside RSI’s founder and management team and we wish them continued success,” said Anthony Munk, a Managing Director of Onex.
© 2013 PEPD • Private Equity’s Leading News Magazine • 2-25-13