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Onex completes acquisition of SGS International for $813m

Canadian private equity firm Onex has completed the previously announced acquisition of SGS International, a global packaging services provider for $813m. The deal was announced in September 2012.

The deal calls for Onex Partners III to make a $260m equity investment in SGS, which includes $66m from Onex, a limited partner in the $4.7bn private equity fund.

Onex managing director David Mansell commenting on the acquisition said, "SGS has tremendous growth potential through international expansion, complementary services and add-on acquisitions."

The fund, including the transaction and the recently announced acquisition of KraussMaffei, a manufacturer of plastic and rubber processing equipment for €568m, will be about 60% invested.

SGS has a network of 38 production facilities and more than 100 on-site customer locations across 17 countries. The company reported about $390m in revenues, for the twelve months ended 30 June 2012.