Onex completes sale of TMS, generates total proceeds of $504 mln
Canadian buyout firm Onex Corp has completed its sale of TMS International Corp (NYSE: TMS) to interests of Thomas J. Pritzker and Gigi Pritzker, advised by The Pritzker Organization LLC, for US$410 million. Since it invested in the company in January 2007, Onex has received proceeds totaling US$504 million, including proceeds from TMS’ earlier initial public offering and prior distributions. This gave Onex and its partners a multiple of capital invested of 2.0 times and a 13% rate of return. Based in Glassport, Pennsylvania, TMS is a provider of outsourced industrial services to steel mills.
16 October 2013•2 mins read
