ONCAP Announces Investment into Biomerics and Merger with Precision Concepts Medical - Seite 2

“This transaction is the culmination of many years of work to develop an expertise in the medical device sub-sector and is a logical next step to expanding the medical business we have built at Precision Concepts,” said Ryan Mashinter, a Senior Managing Director with ONCAP. “We are delighted to be partnering with Travis, Wasatch, and the Marino family to further build on the Company’s tremendous success and vertical integration through a variety of organic and acquisition growth initiatives. We are also excited to continue our strong partnership with Ray Grupinski, CEO of Precision Concepts, both as a future board member at Biomerics and to continue working with the team to grow our consumer packaging business.”

“When we sold Precision Concepts Costa Rica two years ago, we were confident we had found strong partners in ONCAP and Ray and this has only been confirmed since that time,” stated Vince Marino, Founder and President of Precision Concepts Group. “It is clear to us now that we have also found strong partners in Biomerics and we look forward to further extending the Precision Concepts legacy we founded 45 years ago.”

Proceeds to Precision Concepts will be used to repay debt and provide a significant distribution to shareholders, including ONCAP IV. We expect the investment will be made by a combination of ONCAP IV, ONCAP V, and fund co-investors. Biomerics would be the first investment in the new ONCAP V fund. Following the transaction, Biomerics will be well-capitalized with significant capacity to continue to pursue strategic M&A. The terms of the transaction are not being disclosed at this time.

The transaction is expected to close in June, subject to the receipt of required regulatory clearances and other customary closing conditions. William Blair and Stifel acted as financial advisors to Precision Concepts and Raymond James & Associates, Inc. acted as financial advisor to ONCAP.

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 small- and medium-sized businesses that are market leaders and possess meaningful growth potential. For more information on ONCAP, visit its website at www.oncap.com.

Onex is an investor and asset manager that invests capital on behalf of Onex shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, insurance companies and family offices. In total, Onex has $51.1 billion in assets under management, of which $7.8 billion is Onex’ own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.