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PENFUND ANNOUNCES US$34 MILLION
INVESTMENT IN CALIBER COLLISION CENTERS
TORONTO, Ontario (November 10, 2008) -
Penfund, an independent investment company specializing in providing
capital to middle market companies, announced today a US$34 million
investment in Caliber Collision Centers (“Caliber”), a portfolio
company of ONCAP Management Partners L.P. (“ONCAP”). The terms of
Penfund’s investment were not disclosed.
Headquartered in Irvine, California, Caliber is the largest
non-franchised collision repair center operator in the United States
with 66 centers in California and Texas. The company provides
vehicle owners and automobile insurers with high quality, timely
repairs in conveniently located, modern facilities.
Richard Bradlow, Partner, Penfund stated that “Caliber has a proven
management team supported by the experience and resources of ONCAP.
We believe Caliber is well positioned to grow its share of the
collision repair market as auto insurance companies increasingly
look to large, trusted repair operators to deliver high quality
services to their policyholders”.
For further information, please contact:
Penfund
Richard Bradlow
(416) 645-3794
Email: richard@penfund.com
OR
Caliber Collision Centers
Shannon Lynard, Communications Specialist
(949) 224-0300
Email:
shannon.lynard@calibercollision.com
About
Caliber Collision Centers.
Founded in
1997, with headquarters in Irvine, Caliber currently owns and
operates 66 professionally managed collision repair facilities in
California and Texas. Caliber will continue to open and develop new
locations in response to market needs and customer demand for
quality collision repair services. Additional information on Caliber
may be found at
www.calibercollision.com
About
Penfund
Penfund is
an independent investment company specializing in providing junior
capital to middle market companies. Penfund provides high yield and
mezzanine debt, minority and control equity, as well as bridge
facilities, standby lines, underwritten facilities and financial
guarantees. The firm is owned by its management team and is
currently investing its most recently established fund, Penfund
Capital Fund III. Penfund manages institutional funds sourced from
Canadian pension funds and insurance companies and has invested more
than $2.2 billion in over 200 companies since its establishment in
1979. Additional information on Penfund may be found at
www.penfund.com
About
ONCAP
ONCAP is
the mid-market private equity firm of Onex Corporation. Onex is one
of North America’s oldest and most successful private equity firms.
It makes private equity investments through the Onex Partners and
ONCAP families of funds. Onex also manages alternative asset
platforms focused on Real Estate and Credit Securities. In total,
Onex has more than $10 billion of assets under management. Onex
shares trade on the Toronto Stock Exchange under the symbol OCX. For
additional information on ONCAP, please visit
www.oncap.com
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