PRIVATE Equity firm Onex has agreed to acquire SIG Combibloc Group. The takeover is anticipated to formally close in the first quarter of 2015, subject to customary conditions and regulatory approvals.
Onex Corporation is a private equity investment firm. It is a publicly traded company controlled by its founder Gerry Schwartz, who serves as Chairman and CEO. Founded in 1984, Onex is headquartered in Toronto, Canada, with offices in New York and London.
“Onex is a strong and committed capital partner to grant continuity in our successful business strategy. They match SIG ideally and will together with us further develop and grow the business on a long term basis,” said Rolf Stangl, CEO SIG Combibloc Group. “Just as in the past, focusing on our customers and delivering excellent quality and service, remains the unchanged top priority for SIG.”
“SIG’s management team has successfully proven its ability to enter and grow in new markets, while maintaining its standards 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 Combibloc is one of the world’s leading system suppliers of carton packaging and filling machines for beverages and food. In 2013 the company achieved a turnover of 1,680 million Euro with around 5,100 employees in 40 countries.