Private Equity firm Onex is to acquire the SIG Combibloc Group from the Rank Group. The takeover is due to formally close in the first quarter of 2015, subject to customary conditions and regulatory approvals.
Onex Corporation is a private equity investment firm headquartered in Toronto, Canada, with offices in New York and London. 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 with around 5,100 employees in 40 countries.
"Onex is a strong and committed capital partner to grant continuity in our successful business strategy," says Rolf Stangl, CEO of SIG Combibloc. "They match SIG ideally and will together with us further develop and grow the business on a long term basis."
Nigel Wright, a managing director in Onex' London office, adds: "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. We look forward to partnering with Rolf Stangl and his team to further build upon SIG's impressive track record and continue its growth."
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