ONCAP said it has acquired Precision Global, a manufacturer of dispensing solutions for an undisclosed amount.
The company, Precision, is a supplier of valves in the world selling more than four billion annually and also produces and sells two billion actuators annually. Headquartered in Greenville, South Carolina, Precision employs more than 1,500 people across 18 facilities in 15 countries and six continents.
“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 with ONCAP.
“We are excited to partner with Precision’s management team to accelerate the company’s growth both organically and through acquisitions for years to come.”
“ONCAP’s strong investment track record and deep experience in the packaging industry, makes it an ideal partner for us,” said Mario Barbero, Chief Executive Officer of Precision.
“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.”
ONCAP IV invested approximately USD111 million, of which Onex Corporation’s (TSX: ONEX) share was $44 million as a limited partner in the Fund.
