Onex Partners Makes Strategic Investment in Fischbach KG
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Onex Partners to Invest in Fischbach KG
All amounts are in U.S. dollars unless otherwise stated.
Onex Corporation (“Onex”) (TSX: ONEX) has announced that Onex Partners Opportunities Fund has agreed to make a significant majority investment in Fischbach KG (“Fischbach” or the “Company”). Fischbach is recognized as the leading provider of cartridge packaging solutions for sealants and adhesives utilized in various sectors, including building repair, renovation, construction, aftermarket automotive, marine weather and water-sealing applications, as well as aerospace bonding applications. The investment will be made in partnership with the current owner-management team, which is led by Managing Directors Thomas Langensiepen and Achim Helmenstein. The financial terms of this investment have not been disclosed.
Fischbach's Industry Leadership
Fischbach is headquartered in Engelskirchen, Germany, where it provides comprehensive system solutions including plastic cartridges, along with the necessary plungers and nozzles. Additionally, it manufacturers cartridge filling machines and ancillary equipment that facilitate the filling processes for sealants and adhesives at customer facilities. With a rich history dating back to 1954, Fischbach has pioneered innovations such as the plastic caulking tube and continues to lead the industry through its advanced manufacturing technology, consistent supply of high-quality products, and exceptional research and development capabilities. The Company operates out of seven production facilities located in Germany, the U.S., Belgium, the UK, and Spain.
Expert Insights from Onex Partners
Chrisanth Gradischnig, a Senior Principal at Onex Partners, commented on the investment, stating that Fischbach’s engineering excellence and long-standing track record as an innovation leader has positioned the Company to foster enduring relationships with important customers. He expressed excitement about supporting Fischbach's future growth opportunities through this investment.
Value Creation and Growth Strategy
Nigel Wright, Co-Head of Onex Partners, further emphasized that Fischbach represents an exceptional business known globally for its cutting-edge cartridge system solutions. He expressed pride in being the first institutional investors in Fischbach and highlighted that this partnership aligns with Onex's strategy of investing in high-quality businesses that have measurable value creation opportunities. This venture builds on Onex Partners' extensive experience and expertise in the packaging sector, which is a core focus area for the firm.
Management’s Perspective on the Partnership
Thomas Langensiepen and Achim Helmenstein, the Managing Directors of Fischbach, expressed their enthusiasm about partnering with Onex Partners for the next phase of their growth. They noted that Onex shares their vision for growth and commitment to delivering top-tier products to their clientele. The duo conveyed confidence in Onex's long-standing expertise in the packaging sector, believing that this partnership is ideal for Fischbach's development trajectory.
Closing of the Transaction
The closing of this transaction is anticipated to occur later this year, contingent upon customary closing conditions being satisfied. This strategic move is expected to fuel Fischbach's initiatives to expand its offerings and enhance its operational capabilities in the market.
About Onex
Onex invests and manages capital on behalf of its shareholders and clients worldwide. Established in 1984, Onex has developed a remarkable history of creating value for its clients and shareholders. The firm’s investors include a diverse range of global clients such as public and private pension plans, sovereign wealth funds, insurance companies, family offices, and high-net-worth individuals. Currently, Onex manages assets totaling $49 billion, with $8.5 billion representing Onex's investment capital. The company has offices in Toronto, New York, New Jersey, and London, and its adept management teams are the largest investors across Onex's platforms.
About Fischbach KG
Fischbach KG is the world's largest provider of cartridge packaging solutions, specializing in sealants and adhesives utilized for building repair, renovation, construction, aftermarket automotive, marine weather and water-sealing applications, and aerospace bonding. The company's full system solutions encompass plastic cartridges, complimentary plungers, nozzles, cartridge filling machines, and additional equipment critical for customers’ operations. Fischbach primarily maintains a strong presence through its seven manufacturing facilities across Germany, the U.S., Belgium, the UK, and Spain.
Frequently Asked Questions
What does the investment by Onex Partners in Fischbach entail?
The investment involves Onex Partners acquiring a majority stake in Fischbach, enhancing their influence and support for the Company's future growth endeavors.
What industries does Fischbach serve?
Fischbach operates within industries including construction, aftermarket automotive, marine applications, and aerospace, providing sealants and adhesive solutions.
What is Fischbach’s historical significance?
Fischbach has a legacy dating back to 1954 and is credited with inventing the plastic caulking tube, demonstrating long-standing innovation in the packaging sector.
Who are Fischbach’s key management figures?
The management team includes Managing Directors Thomas Langensiepen and Achim Helmenstein, who are instrumental in guiding the company’s strategic vision.
What does Onex’s investment strategy focus on?
Onex focuses on investing in high-quality businesses with the potential for value creation and strives to form partnerships that enhance operational capabilities in key sectors.
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