CPE News (11/21/2018) – ONCAP, the mid-market private equity platform of Onex Corporation (TSX: ONEX), has completed previously announced sale of Tecta America Corporation to Altas Partners. Financial terms of the transaction remained undisclosed.
In August 2016, ONCAP III and Onex acquired Rosemont, Illinois based Tecta America, a national leader in commercial roofing services in the U.S. with more than 60 locations from coast to coast.
ONCAP and Onex acquired Tecta from Oaktree Capital Management for US $280 million with a combined equity investment of US $124 million.
photo credit: Tecta America
– ONCAP Completes Sale of Tecta America –
Toronto, November 21, 2018 – Onex Corporation (“Onex”) (TSX: ONEX) today announced that ONCAP has completed the sale of Tecta America Corporation, a national leader in commercial roofing services in the U.S. The terms of the transaction were not disclosed.
ONCAP is the mid-market private equity platform of Onex. In partnership with operating company management teams, ONCAP invests in and builds value in North American headquartered medium-sized businesses that are leaders and possess meaningful growth potential. For more information on ONCAP, visit its website at www.oncap.com.
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. Onex has more than $33 billion of assets under management, including $6.9 billion of Onex proprietary capital, in private equity and credit securities. With offices in Toronto, New York, New Jersey and London, Onex and the team are collectively the largest investors across Onex’ platforms.
Onex’ businesses have assets of $52 billion, generate annual revenues of $32 billion and employ approximately 218,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.
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Director, Investor Relations