November 07, 2012 - 4:46 PM
TORONTO - Onex Corp. (TSX:OCX) reported an improved profit attributable to shareholders of US$175 million, as revenue grew 12 per cent.
The private equity investment firm, which keeps its books in U.S. dollars, said Wednesday the profit amounted to 1.52 per share for the quarter ended Sept. 30, compared with $146 million or $1.25 per share a year ago.
Revenue grew to $6.71 billion, up from $6.01 billion.
Onex attributed the increase in part to acquisitions in 2011, including the Jeld-Wen window business.
During the quarter, Onex closed its $813 million acquisition of SGS International, which provides graphics design and packaging services to the consumer products industry.
Onex also agreed to buy KraussMaffei, a manufacturer of plastic and rubber processing equipment, in a deal valued at €568 million.
"The past several months have been busy for us. We announced two acquisitions and continue to broaden our sourcing capabilities," Onex chairman and chief executive Gerald Schwartz said in a statement.
"The SGS International investment resulted from several years of work in the consumer and packaging industries and KraussMaffei was a joint effort between our Toronto and London teams."
Onex holds investments in a wide range of companies including a large stake in electronics maker Celestica Inc. (TSX:CLS).
News from © The Canadian Press, 2012