Onex acquires SIG Combibloc for €3.75bn

The firm stated it will pay €3.575bn at the closing of the transaction, followed by a further €175m based on SIG's financial performance in 2015/16.

Onex will invest $1.25bn in equity from its Onex Partners IV Fund alongside co-investment from LPs, parent company Onex and SIG's management team.

SIG's previous owner was Illinois-based Reynolds Group Holdings, which bought the company in 2007 for CHF 2.8bn. Reynolds is part of Rank Group, a company owned by New Zealand-based billionaire Graeme Hart.

Company
Headquartered in Neuhausen am Rheinfall, SIG provides aseptic carton packaging. It operates seven production facilities worldwide and serves customers in 40 countries.

SIG can trace its roots back to 1853 with the opening of the Schweizerische Waggonfabrik in Schaffhausen. It entered the market for packaging machinery in 1906. The company has focused solely on its packaging technology business since 2008, after selling its packaging and beverage businesses in 2004 and 2008 respectively.

The company had a turnover of €1.68bn in 2013 and employs 5,200 people.

People
Nigel Wright is a managing director at Onex's London office. Rolf Stangl is CEO of SIG.

Advisers
Vendor – Goldman Sachs (Corporate finance).

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• Topics
• DACH
• Buyouts
• Industrials
• Switzerland
• Onex Partners
• Unq2015Jan