Onex’s middle-market private equity platform Oncap has acquired dispensing solutions manufacturer Precision Global from an affiliate of Peak Rock Capital for an undisclosed sum.
Established in 1949, Precision Global is engaged in the manufacturing of valves, actuators and related dispensing solutions.
Precision Global board member and Peak Rock managing director Robert Strauss said: “We are extremely proud of all that Precision and its outstanding management team have achieved over the past few years, with Peak Rock’s backing.”
Based in Greenville of South Carolina, the firm operates a multinational network of facilities located in 15 countries on six continents.
In 2015, an affiliate of Peak Rock acquired Precision Global. Peak Rock helped Precision Global to invest in manufacturing assets, which allowed to expand product capabilities and reorganize commercial activities to improve global coordination of its go-to-market strategy.
The company’s aerosol valves, custom actuators and other dispensing solutions can be used in a range of end markets, including personal care, household, food and beverage, industrial and pharmaceutical.
Precision Global produces a range of over caps and spray caps for use in different products applications.
The company produces a wide variety of valve solutions ranging from vertical and tilt aerosol valves to powder, metered and bag-on-valves.
Precision Global manufactures different actuator products, including stock button, small and large dome, spout, and trigger.
The firm produces different types of pump products, which can be customized as per the customer’s requirements. Its various pump products include trigger, fine mist, lotion and foamer pumps.
Harris Williams has served as the financial advisor, while Kirkland & Ellis acted as the legal advisor to Precision Global on the deal.
Peak Rock CEO Anthony DiSimone said: “This transaction highlights Peak Rock’s capabilities to support the growth of global middle-market businesses.
“We look forward to continuing to pursue opportunities in the packaging industry as well as companies with a diverse, multinational footprint that can benefit from Peak Rock’s strategic and operational expertise and collaboration.”
Peak Rock Capital is a middle-market private equity firm, which makes equity and debt investments in companies across North America and Europe.