ONCAP completes investment in Biomerics
Torys acted as counsel to ONCAP in connection with its investment in Biomerics with a team that was co-led by Stefan Stauder, Meghan McKeever and included Alastair Smith and Winnie Hu (corporate/M&A), Ed Fan and Michele Clarizio (IP), Ellie Kang, Ryan Davis (executive compensation), Peter Keenan, Michelle Lu and Chris Saki (tax).
On July 24, 2023, ONCAP announced the closing of a significant investment into Biomerics, LLC (“Biomerics”) made by a combination of ONCAP IV, ONCAP V and other co-investors.
With the completion of this transaction, Biomerics is the second investment for ONCAP V alongside Right At School, which closed earlier in the month.
In connection with the investment transaction, Biomerics merged with the medical business of ONCAP IV’s current portfolio company, Precision Concepts (“Precision Concepts Medical”) including Precision Concepts Group of Winston-Salem, NC, which was acquired from the Marino family in April 2023. Following the transaction, Precision Concepts will become a stand-alone pure-play consumer packaging company with a dedicated focus from the existing management team on growing both organically and through mergers and acquisitions (M&A).
Further information can be found on Globe Newswire’s website.
Biomerics is a leading medical device contract manufacturer serving the interventional device market. It provides design and development services, technology transfer manufacturing services, and contract manufacturing services for medical device components, subassemblies, and finished medical devices.
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.