WireCo WorldGroup Gets Capital Infusion from Onex Corp.

June 27, 2016 – Making an equity investment of approximately $260 million, Onex Corp. has agreed to acquire a majority stake in WireCo WorldGroup. Funds managed by Paine & Partners LLC retain a minority interest alongside WireCo management.

 

WireCo, which relocated from Kansas City, Mo. to Prairie Village, Kan., last year, operates 24 manufacturing facilities in eight countries and employs some 4,000 people. The company marks its 85th year in business this year. “We are delighted to have Onex as our partner to further expand on the solid foundation we've built with Paine & Partners,” said Chris Ayers, president and CEO. 

 

Onex’s $5.7 billion private equity fund Onex Partners IV will make the equity investment; the  share is approximately $75 million as a limited partner in the fund. The transaction is expected to close later this year.