Houston, TX July 31, 2025
The Sterling Group (“Sterling”), a Houston, TX-based middle market private equity firm, today announced the acquisition of Precision Concepts International, LLC (“PCI” or “the Company”), a leading provider of specialty rigid packaging solutions, from ONCAP, the lower mid-market private equity platform of Onex Corporation (TSX: ONEX). Sterling will partner with existing PCI investors, including ONCAP and management, to support PCI’s continued growth.
Headquartered in Huntersville, North Carolina, PCI operates five manufacturing facilities across the U.S., with additional locations in Canada and Costa Rica, that service small to mid-size companies within stable, consumer-focused end sectors including personal care, household, and food and beverage products. Sterling has a long history of partnering with management teams in the packaging sector. Long-time specialty packaging executive Ken Swanson, who formerly served as Chief Executive Officer of Sterling portfolio company Liqui-Box, will serve as Chairman of PCI’s Board of Directors upon the closing of the transaction.
Evercore acted as financial advisor and Latham & Watkins LLP acted as legal advisor to The Sterling Group. William Blair and Stifel acted as financial advisors and Kirkland & Ellis LLP acted as legal advisor to PCI.
About The Sterling Group
Founded in 1982, The Sterling Group is a private equity and private credit investment firm that targets investments in basic manufacturing, distribution, and industrial services companies. Typical enterprise values of these companies at initial formation range from $100 million to $750 million. Sterling has sponsored the buyout of 76 platform companies and numerous add-on acquisitions for a total transaction value of over $25 billion. Sterling currently has over $9 billion of assets under management. For further information, please visit www.sterling-group.com.
About ONCAP
Founded in 2000, ONCAP is the dedicated lower mid-market private equity platform of Onex Corporation, committed to investing in and partnering with North American headquartered businesses and their management teams in our core sectors of emphasis. Today, ONCAP operates with a team of 39 employees managing $3.5 billion in assets across offices in Toronto and New York. For more information on ONCAP and Onex, visit www.oncap.com and www.onex.com.
About Onex
Onex invests and manages capital on behalf of its 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, banks, insurance companies, family offices and high-net-worth individuals. In total, Onex has approximately $53.1 billion in assets under management, of which $8.3 billion is Onex’ own investing capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.
Onex is listed on the Toronto Stock Exchange under the symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedarplus.ca.
Past performance is no guarantee of future results and all investments are subject to loss.
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