The amounts above include Onex’ share of the carried interest and are net of any payments under the Management Investment Plan.
||Polyethylene products and engineering solutions
||C$36 million /
C$11 million from Onex
||C$76 million / C$27 million by Onex
Armtec Limited was a leading provider of steel and high-density polyethylene products and engineered solutions for the Canadian civil engineering industry.
In July 2004, Armtec converted to an income trust and completed a C$90 million initial public offering. ONCAP I sold 100% of its stake in Armtec in that offering for proceeds of C$76 million – an IRR of 30%.