Onex Corp. Exits TMS International Corp.
Onex Corp. said Monday that it has entered an agreement to sell its majority stake in TMS International Corp. to an affiliate of The Pritzker Organization. According to the proposed deal, Onex will sell their 23.4 million TMS shares for US$410 million. The transaction is expected to close in the fourth quarter of 2013. Based in Pennsylvania, TMS is a provider of outsourced industrial services to steel mills in North America. Onex is a private equity firm with offices in Toronto, London and New York. Update: Onex has invested US$249 million in the company since 2007.
26 August 2013•3 mins read
