ONCAP, the mid-market private equity platform of Onex Corporation (TSX: ONEX), in partnership with the existing management team, has acquired Laces Group Inc. from NOVACAP. Financial terms were not disclosed.
The investment was made by ONCAP IV, a $1.1 billion fund.
Montreal based Laces Group is a leading designer, manufacturer and marketer of bath accessories and home fashion products. Laces Group has offices in the USA, Canada and China. It operates through its entities Maytex in the United States and Banyo-Decolin in Canada.
Novacap Industries III acquired Laces in 2014.
photo credit: Laces Group
News Release
ONCAP Invests in Laces Group –
Toronto, December 28, 2017 – Onex Corporation (“Onex”) (TSX: ONEX) today announced ONCAP has acquired Laces Group Inc. (“Laces Group”), in partnership with the existing management team. Laces Group is a leading designer, manufacturer and marketer of bath accessories and home fashion products.
The investment was made by ONCAP IV, Onex’ $1.1 billion fund. The terms of the transaction were not disclosed.
About ONCAP
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 market leaders and possess meaningful growth potential. For more information on ONCAP, visit its website at www.oncap.com.
About Onex
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 $30 billion of assets under management, including $6.7 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 $45 billion, generate annual revenues of $30 billion and employ approximately 161,000 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.