Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

M.8139 – Onex / Pain & Partners / WireCo

SECTION 1.2

Description of the concentration

On 22 July 2016, the European Commission received a notification of a proposed concentration pursuant to article 4 of the Regulation (EC) 139/2004 by which Onex Corporation (“Onex”), through one of its indirectly controlled entities, proposes to acquire joint control over the WireCo WorldGroup (Cayman) Inc. (“WireCo”). The Transaction will take place by means of the acquisition of newly-issued shares in WireCo. Paine & Partners (“Paine”), currently indirectly owns approximately 98% of the shares in WireCo, and will retain joint control over WireCo with Onex after completion.

The main business activities of the undertakings concerned are:

Onex: is a Canadian-based corporation listed on the Toronto Stock Exchange that invests in companies through a number of private equity funds. Onex invests in various industry sectors, including electronics manufacturing services, healthcare imaging, health and human services, building products, insurance services, packaging products and services, aerospace automation, tooling and components, aircraft leasing and management, business services/tradeshows, restaurants, hospital management services and survival equipment.

Paine: is a private equity firm based in the USA. It is focused on management buyouts and growth capital investments. Paine manages investments on behalf of global financial institutions and investors with a focus on the food and agribusiness industries.

WireCo: is a US-based global manufacturer of highly-engineered and general purpose wires, steel wire and synthetic ropes (and related hardware products), electromechanical (EM) cable and highly engineered cable structures, used in diverse applications.