Toronto,December 1, 2020–

Onex Corporation (“Onex”) (TSX: ONEX)and its affiliated funds(the “Onex Group”)today announced they sold their remaining approximately 32.3million shares of SIG Combibloc Group (“SIG”) (SIX: SIGN), a leading systems and solutions provider for aseptic carton packaging. After this sale,the Onex Group will cease to hold any shares of SIG.

Nigel Wright, Senior Managing Director of OnexPartners, commented, “With this sale we have exited our investment in SIG Combibloc. We are honoured to have been part of SIG’s journey over thelastnearly six years, as it has grown around the world, expanded its product portfolio,and continued to offer first-rate solutions to its customers. We wish everyone at SIG the best of success in the years to come.”
At the transaction price of CHF 20.35 per share, gross proceeds to the Onex Group will be approximately $725 million, of which Onex’ share will be approximately $225 million as a Limited Partner in Onex Partners IV and as a co-investor.
The transaction, which was made through an accelerated bookbuilding process to institutional investors, is expected to close on December 3, 2020, subject to customary closing conditions.

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any of these securities in the United States, Australia, Canada or Japan or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification or the publication of a prospectus under the securities laws of any such jurisdiction. The securities may not be offered or sold in the United States absent registration or an applicable exemption from United States registration requirements. No public offer of securities is to be made in the United States, Australia, Canada or Japan. Copies of this document may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law.
This announcement is not an offer of securities for sale in or into the United States. The shares of SIG have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or under the laws of any State of the United States and may not be offered or sold in or into the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. No public offering of securities will be made in the United States.

This announcement and any offer of securities to which it relates are only addressed to and directed at persons who are (1) qualified investors as defined under Regulation (EU) 2017/1129 (the “Prospectus Regulation”) and (2) who have professional experience in matters relating to investments who fall within article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or are persons falling within article 49(2)(A) to (D) (“High net worth companies, unincorporated associations, etc.”) of the Order or are persons to whom an offer of the placement shares may otherwise lawfully be made.

With respect to each member state of the European Economic Area and the United Kingdom (each a “Relevant State”), no offer of the shares has been made and will not be made to the public in that Relevant State in accordance with the Prospectus Regulation, no action has been undertaken or will be undertaken to make an offer to the public of the shares sold by the investors requiring a publication of a prospectus in any Relevant State. As a consequence, the shares may only be offered or sold in any Relevant State pursuant to an exemption under the Prospectus Regulation.

No action has been taken by Onex or any of its affiliates that would permit an offering of such shares or possession or distribution of this announcement or any other offering or publicity material relating to such shares in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required by Onex to inform themselves about, and to observe, any such restrictions. Persons (including, without limitation, nominees and trustees) who have a contractual or other legal obligation to forward a copy of this announcement should seek appropriate advice before taking any action.

About Onex
Founded in 1984, Onex invests and manages capital on behalf of its shareholders, institutional investors and high net worth clients from around the world. Onex’ platforms include: Onex Partners, private equity funds focused on larger opportunities in North America and Europe; ONCAP, private equity funds focused on middle market and smaller opportunities in North America; Onex Credit, which manages primarily non-investment grade debt through collateralized loan obligations, senior loan strategies and other private credit strategies; and Gluskin Sheff’s wealth management services including its actively managed public equity and public credit funds. In total, Onex has approximately $36.6 billion of assets under management, of which approximately $6.7 billion is its own shareholder capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.
The Onex Partners and ONCAP businesses have assets of $36 billion, generate annual revenues of $22 billion and employ approximately 149,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.

Forward-Looking Statements
This press release may contain, without limitation, statements concerning possible or assumed future operations, performance or results preceded by, followed by or that include words such as “believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of similar connotation, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements. Except as may be required by Canadian securities law, Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors. These cautionary statements expressly qualify all forward-looking statements in this press release.

For Further Information
Jill Homenuk
Managing Director, Shareholder Relations and Communications
Tel: 416.362.7711

Powersports Distribution Group (PDG) is proud to announce that it has concluded the purchase of the entire share capital of Neo Distribution (also known as Putoline Distribution) in the UK. With this acquisition PDG further strengthens its position as a National Distributor of premium motorcycle parts and accessories in the United Kingdom.

The purchase of Neo Distribution follows the acquisition of Bradbury Brothers and Rob Hunter in 2019, the combined Company now trading as Hoco Parts UK Ltd. from its Huddersfield facility.

John Hayden & Sally Hayden, Directors added; “We are delighted with this transaction and look forward to working together with our staff and the Hoco Parts UK team under the umbrella of Powersports Distribution Group. We are very happy that we have been able to conclude this deal even in these times of uncertainty. This a great opportunity for us and will strengthen the position of all our brands and help us to offer an even greater service to our existing UK dealer base.”

Tom Beyers, CEO of parent company PDG, said; “We are very pleased to welcome Neo Distribution to the Group and we look forward to further developing the Company together with John and Sally. The acquisition of Neo Distribution is an important step in the further development of our Hoco Parts UK platform, which we are actively expanding with a well-filled M&A pipeline still ahead of us.“

About Neo Distribution
Neo Distribution, which started as Putoline Distribution Limited, was bought by John Hayden & Sally Hayden in 2004. While keeping the focus on the exclusive distribution of Putoline Motorcycle Lubricants, Action air filters and maintenance products, they later added product groups which include Roof Motorcycle helmets and Kappa luggage, accessories and helmets. A combined sales staff of 13 people enthusiastically serve more than 1000 customers around the UK. The Company and its warehouse are located near Peterborough in the UK. For more information please visit: www.neodistribution.co.uk

About PDG
Powersport Distribution Group is a leading European group active in the distribution of parts and accessories for motorcycles, headquartered in Breda (the Netherlands). PDG‘s value proposition is to be the preferred partner for its customers and suppliers based on its broad premium product assortment, ease of ordering, availability, service level and perfect fit. PDG is proud to have the most professional and passionate individuals on board, to work with the industry’s most respected brands and to earn the trust of thousands of customers every day.

The Group currently consists of three divisions:
(1) General motorcycle aftermarket BtB distribution with Hoco Parts, a premium motorcycle parts & accessories distributor in the Benelux, France, Denmark and the UK.
(2) Category management with DC AFAM, an after-market supplier to European motorcycle parts distributors with transmission & battery brands like AFAM, Nitro and Shido.
(3) Vintage Parts Distribution with CMS, the leading global distributor of vintage Japanese motorcycle parts

PDG is majority owned by Torqx Capital Partners in partnership with management and former owners. For more information please visit: www.powersportsdistributiongroup.com

4 November, 2020 – University of Cambridge spin-out Porotech has today announced the launch of its first product based on its breakthrough gallium nitride (GaN) production technique that is set to transform the electronics industry. The company has launched the world’s first commercial native red LED epiwafer for micro-LED applications.

Micro-LED display technology offers a huge improvement on standard display panels due to its optimum brightness, efficiency and image definition, as well as improved lifetime. These benefits are crucial for near-to-eye applications such as augmented reality (AR) and head-mounted displays – a market predicted to be worth tens of billions of dollars over the next five years. They are also key for a range of other applications – from large area displays and TVs to mobile phones and wearable devices such as smartwatches. But, until now, achieving the necessary high-efficiency, ultra-fine-pitch red pixels has proved a challenge.

Traditional red LEDs are largely based on aluminum indium gallium phosphide (AlInGaP) materials. This means they show a drastic efficiency drop as the device size decreases due to their large carrier diffusion lengths and high surface recombination velocity.

Porotech’s unique production process has enabled the creation of a new class of porous GaN semiconductor materials that is redefining what is possible. As a result, the company is now the first to launch a commercially available native red indium gallium nitride (InGaN) LED epiwafer for micro-LED applications.

“Micro-LED displays using GaN-based material technology are widely seen as the only technology that can deliver displays bright and efficient enough to meet the requirements of AR,” said Porotech CEO and co-founder Dr Tongtong Zhu. “With AR glasses expected to one day replace smartphones – or at least reduce our interaction with the devices in our pockets – development of advanced materials to improve performance is crucial.

“Integration of AlInGaP red and indium InGaN green and blue LED displays in a module with micron-scale pixels is extremely challenging as high surface recombination velocities in AlInGaP devices make this material unsuitable for efficient micro-LEDs. Our breakthrough extends the emission range of InGaN LEDs to meet the performance needs of the red display, whilst delivering the ability to scale wafer size required by micro-LED semiconductor display technology.”

GaN is a material poised to make an impact across electronics and optoelectronics – from efficient power transistors and lasers to quantum devices, sensors and solar cells – and the introduction of porous architectures can extend its capability in all these realms. Porotech’s product fits within existing industry standards and processes. The proprietary technology is robust but also flexible enough to be tailored to the needs of different applications. Porotech’s native red InGaN micro-LEDs have a wavelength of 640 nm at 10 A/cm², and improved performance over conventional AlInGaP and colour-converted red at very small pixels and pitches.

Earlier this year, Porotech secured a £1.5 million seed round investment co-led by Cambridge Enterprise, the commercialisation arm of the University of Cambridge, and IQ Capital Partners, with the additional participation of Martlet Capital and a syndicate of angel investors from Cambridge Angels and Cambridge Capital Group.

ENDS

Notes for editors

Porotech is a gallium nitride (GaN) material technology developer and a spin-out from the Cambridge Centre for Gallium Nitride at the University of Cambridge. The company focuses on the development of high-performance and energy-efficient wide-bandgap compound GaN semiconductors by applying cutting-edge material technologies and solutions to unleash the full potential of GaN to revolutionise the electronics industry. For more information, visit: www.porotech.co.uk

Originally published here.

San Francisco, CA – November 19, 2020 —

Gryphon Investors (“Gryphon”), a leading middle-market private equity firm, announced today that it has acquired Kano Laboratories (“Kano” or the “Company”), a market leading producer of iconic, branded penetrating oils and lubricants sold into industrial maintenance, repair, and operations (“MRO”) and consumer markets. Working alongside a team of highly relevant executive advisors, Gryphon intends to build a leading platform in the branded specialty chemicals sector. This represents the first deal closed by Gryphon’s Heritage Fund team, a new small-cap fund offering launched by Gryphon earlier this year. Financial terms for the transaction were not disclosed.

Founded in 1939 and based in Nashville, Tennessee, Kano is the leading producer of industrial strength penetrating oils and lubricants, offering high quality products to some of the world’s leading businesses. With a passionately loyal customer base, the Company’s key Kroil and AeroKroil branded products are trusted by professionals to loosen rusted, corroded, or frozen mechanical parts. The Company serves a large, diversified customer base with broad market exposure, including Fortune 1000 Companies in all 50 states and internationally.

Keith Stimson, Deal Partner and Head of the Heritage Fund Team at Gryphon, said, “Our investment in Kano is a continuation of Gryphon’s successful proactive sector initiatives in both Enthusiast Brands and Specialty Chemicals, and also leverages insights gained from current portfolio company Mechanix Wear and former portfolio company K&N Engineering.” Amanda Kalin, a Deal Principal in Gryphon’s Heritage Fund Group, added, “We’re excited to partner with Kano and its management team as we build on the Company’s strong reputation for efficacy and expand its presence in the market.”

Kano’s management team will be led by newly appointed CEO Sevan Demirdogen, a former Group President in the Polymers and Fluids segment of Illinois Tool Works (ITW). Gryphon Heritage Fund Operating Partner Craig Nikrant said, “Sevan was instrumental in helping us underwrite this acquisition and is uniquely qualified to lead Kano with extensive experience in the Industrial penetrating oils and lubricants space and MRO distribution.” Demirdogen will also serve on the board, along with several executive advisors who have experience within the specialty chemicals and industrial distribution channel sectors, including Mike Irwin, a 23-year veteran and former CFO of WD40, who will serve as Kano’s Executive Chairman.

Mr. Nikrant added, “Kano Labs has built an incredible reputation among professionals as the premium product in the industry. Gryphon’s investment will enable the Company to accelerate organic growth as the team has already identified optimization opportunities to create go-forward value and further position Kano as a market leader.”

Gryphon was advised by legal counsel Kirkland & Ellis, and financial advisor Piper Sandler. Houlihan Lokey served as the exclusive financial advisor to Kano Laboratories, and Bass, Berry & Sims served as legal counsel.

About Kano Laboratories
Founded in 1939 and based in Nashville, Tennessee, Kano is a leading producer of iconic, branded penetrating oils and lubricants in the industrial maintenance, repair, and operations (“MRO”) and consumer markets. Kano has built a passionately loyal customer base around its Kroil and AeroKroil branded products, which are used by professionals to loosen rusted, corroded, or frozen mechanical parts. For more information, visit www.kanolabs.com.

About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $5.0 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.