NEWS Onex acquires Precision Global
Private equity company Onex has acquired dispensers and caps producer Precision Global. The Canadian investment firm – which has bought and sold a number of packaging and plastics industry firms in the past decade – acquired Precision Global through its Oncap IV fund from Peak Rock Capital. Financial terms of the deal were not disclosed, but Onex said Oncap IV invested approximately $111m. Precision is based in
Greenville, South Carolina, in the US, and employs more than 1,500 people at 18 facilities in 15 countries around the world. It claims to be the largest supplier of
years to come.” Mario Barbero, CEO of
aerosol valves in the world, selling more than 4bn annually. It also produces 2bn actuators per year, as well as pumps, caps and related aerosol accessories, custom closures and other specialty dispensing products. These are sold in markets such as personal care, household, food and beverage, industrial and pharmaceutical.
“Precision serves a
growing market with high-quality, reliable and innovative products that are critical to its customers and end users,” said Ryan Mashinter, a Managing Director at Oncap. “We are excited to partner with Preci- sion’s management team to accelerate the company’s growth both organically and through acquisitions for
Precision said: “Oncap’s strong investment track record and deep experience in the packaging industry, makes it an ideal partner for us. Together, we’ll continue to invest in our business with an ongoing focus to be the best in class global supplier of quality, service and innovation in all regions.” Precision’s website says the company operates more than 250 injection moulding machines and more than 200 assembly lines. It also has high speed metal forming operations at some of its facilities. �
www.precisionglobal.com
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