TORONTO – Onex Corp., a private equity investment firm, announced that it has agreed to acquire a 50% interest in RSI Home Products Inc., a U.S. manufacturer of cabinetry for the residential marketplace, for a purchase price of $318 million. The remaining 50% of RSI will continue to be owned by Ronald Simon, the company’s founder and Chairman, and other existing shareholders.
RSI employs more than 5,000 people in its locations in California, Kansas, North Carolina, Mexico and China.
“We believe that RSI’s manufacturing expertise, product innovation and customer service capabilities position the company extremely well to take advantage of the eventual recovery in the repair and remodeling industry,” said Anthony Munk, an Onex managing director. “We are excited to be investing alongside RSI’s founder, Ron Simon, and its exceptional management team led by President and CEO, Alex Calabrese.”
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