Private Equity
Onex Sells RSI Stake for $323M
The PE firm made a $318M equity investment in October 2009
Onex Corp. (TSX: OCX) has completed the sale of its 50 percent stake in RSI Home Products to RSI for $323 million.
The private equity firm made a $318 million preferred equity investment in RSI in October 2008. Including prior distributions, the company made $186 million in proceeds on the deal.
RSI, headquartered in Anaheim, Calif., manufactures kitchen and bathroom products, such as vanities and cabinets.
Toronto-based Onex has about $15 billion in assets under management.
Joel Greenberg, Louis Tuchman and Peter Danias from Kay Scholer provided legal counsel to Onex for the deal.
In January, Onex bought a 50 percent stake in aircraft company BBAM LLC for $165 million. In December, the company bought Bradshaw International, a company that makes cookware.
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