ONCAP Announces Sale of Englobe’s Engineering Services Business

All amounts in U.S. dollars unless otherwise stated

TORONTO, June 03, 2024 (GLOBE NEWSWIRE) -- ONCAP today announced it has signed a definitive agreement to sell its ownership interest in Englobe Corporation (“Englobe”), a leading engineering and environmental services firm, to Colliers, a diversified professional services and investment management company. The transaction, which is subject to customary closing conditions, excludes Englobe’s material management and beneficial reuse (“MMBR”) operations located in Canada, the UK and France which are being sold to a strategic buyer in a separate transaction expected to close in June.

Headquartered in Laval, Québec, Englobe is a multi-discipline professional services firm that provides civil, geotechnical and environmental engineering, material testing and related consulting services to public and private sector clients across transportation, water, buildings and power end markets. Englobe has grown to become one of the largest engineering and environmental services firms in Canada with a multi-disciplinary service offering across a national footprint. Through MMBR, Englobe also provides contaminated soil treatment and organic waste management services in Canada, the UK and France in a standalone business unit that will be divested prior to the Company’s sale to Colliers.

About ONCAP

ONCAP is the mid-market private equity platform of Onex. In partnership with operating company management teams, ONCAP invests in and builds value in North American headquartered small- and medium-sized businesses that are market leaders and possess meaningful growth potential. For more information on ONCAP, visit its website at www.oncap.com.

About Onex

Onex is an investor and asset manager that invests capital on behalf of Onex shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, insurance companies, family offices and high net-worth individuals. In total, Onex has $50.9 billion in assets under management, of which $8.4 billion is Onex’ own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms. Onex is listed on the Toronto Stock Exchange under the symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedarplus.ca.

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.

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