Onex to Acquire SIG
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Onex to Acquire SIG

SIG nf1Onex Corporation has agreed to acquire SIG Combibloc Group AG, the second largest provider of aseptic carton packaging globally, for up to €3.7 billion ($4.7 billion).  Of the purchase price, €3.6 billion ($4.4 billion) will be paid at the closing of the transaction, with an additional amount of up to €175 million ($217 million) payable based on the financial performance of SIG in 2015 and 2016.  An equity investment of approximately $1,250 million will be made by Onex Partners IV, certain limited partners as co-investors, including Onex, and SIG’s management team.  The transaction is anticipated to close in the first quarter of 2015.

nigel wright nf1“SIG’s management team has successfully proven its ability to enter and grow in new markets, while maintaining its standard of excellence in existing markets,” said Nigel Wright, a Managing Director in Onex’ London office. “We look forward to partnering with Rolf Stangl and his team to further build upon SIG’s impressive track record and continue its growth.”

SIG provides beverage and food producers with a product portfolio of aseptic carton sleeves and closures, as well as the filling machines that producers and packagers use with these sleeves. The company operates seven production facilities globally and has 5,200 employees serving a mix of leading multinational and regional customers in more than 40 countries worldwide. SIG is headquartered in Switzerland (www.sig.biz)

“Our commitment to providing customers with a premier aseptic carton packaging system has made SIG a leader within our industry,” said Mr. Stangl, CEO of SIG. “We are excited about our next phase of growth in partnering with Onex.”

Onex Corporation makes private equity investments through the Onex Partners and the ONCAP families of funds. Onex has more than $20 billion of assets under management and is based in Toronto with additional offices in New York and London.  Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX (www.onex.com).

2014 PEPD • Private Equity’s Leading News Magazine • 11-25-14

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