Onex to Acquire SGS International for $813M
SGS International announced today that Onex Corporation (OTC: ONEXF) has agreed to acquire SGS from affiliates of Court Square Capital Partners for $813 million.
Based in Louisville, Kentucky, SGS is a vertically-integrated provider of packaging graphics services to branded consumer products companies, retailers and the printers that service them. SGS provides critical services that ensure customers are able to obtain or produce consistent, high-quality packaging materials, often on short turnaround times. The company has over 2,400 employees spanning a network of 37 production facilities and at more than 100 customer locations across 14 countries.
“We have appreciated our successful partnership with Court Square and the support they have provided,” said Hank Baughman, President and Chief Executive Officer of SGS. “We are excited about our partnership with Onex given its long-term track record and experience with industry-leading businesses. I look forward to working with Onex to execute our strategic plan and to continue to expand the business to better serve our customers. I want to assure our valued customers that we are dedicated to maintaining the same high level of service, with the same employees, to which they are accustomed.”
The transaction is anticipated to close in the fourth quarter subject to customary regulatory approvals.
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