04:51 PM EDT, 08/22/2024 (MT Newswires) -- Onex ( ONEXF ) on Thursday said its Onex Partners Opportunities Fund is taking a majority stake in German manufacturer Fischbach KG for an undisclosed price.

The private equity company said Fischbach is "the world's largest provider of cartridge packaging solutions for sealants and adhesives used in building repair, renovation, & construction, aftermarket automotive, marine weather & water-sealing applications, and aerospace bonding applications".

Onex ( ONEXF ) said the investment is being made along with Fischbach's owner-management group, led by managing directors Thomas Langensiepen and Achim Helmenstein.

"Fischbach's engineering excellence and track record as an innovation leader and reliable supplier of high-quality products has enabled the Company to build decades-long relationships with key customers," said Senior Principal at Onex Partners Chrisanth Gradischinig. "We have been consistently impressed by Fischbach's technology leadership, driving the industry forward through innovative product launches, and are excited to support further investment to pursue growth opportunities going forward."

Onex ( ONEXF ) shares closed up $0.70 to $92.98 on the Toronto Stock Exchange