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Onex to acquire SGS International for $813m

Canadian private equity firm Onex has agreed to acquire SGS International, a global company that provides packaging graphics services to consumer products companies, for $813m.

The deal, expected to close in the fourth quarter, calls for Onex Partners III to make a $260m equity investment in SGS, which includes $65m from Onex, a limited partner in the $4.7bn private equity fund.

SGS president and chief executive officer Hank Baughman said the company will work with Onex to execute its strategic plan and to continue to expand the business to better serve its customers.

"We are excited about our partnership with Onex given its long-term track record and experience with industry-leading businesses," Baughman said.

US-based SGS provides packaging services to retailers and the printers. The company, which has a network of 37 production facilities, generated about $390m in revenues for the twelve months ended 30 June 2012.