Onex Partners inks $620M deal to acquire Tube City IMS
Nov 10, 2006 | 11:07 AM
| Michael Marley
Tube City IMS Corp., Glassport, Pa., is in the process of being sold to Onex Partners LP, a $3.5-billion private-equity fund managed by Toronto-based Onex Corp., for $620 million.
Wellspring Capital Management LLC, a New York-based private equity firm, announced Friday that it signed a definitive agreement to sell all of the outstanding shares of the Tube City to the Canadian conglomerate. Onex has global operations in service, manufacturing and technology industries with annual revenue of $19 billion. Its shares are traded on the Toronto Stock....
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