ONCAP Completes Acquisition of Chatters Canada

TORONTO, ONTARIO--(Marketwired - July 13, 2015) -

All amounts in Canadian dollars unless otherwise stated

ONCAP is pleased to announce the completion of its acquisition of Chatters Canada ("Chatters"), in partnership with the existing management team. The investment is being made by ONCAP III, an $800 million fund. The terms of the transaction were not disclosed.

About Chatters

Based in Red Deer, Alberta, Chatters is the largest retailer of professional hair care products in Canada and one of the largest hair salon operators in the country with 101 stores across eight provinces. The company offers a broad selection of over 5,500 SKUs of professional hair products, hair tools, skin/body products, nail products and hair accessories. As part of its services business, Chatters offers both men's and women's haircuts, hair colouring, hair styling and some esthetics services.

About ONCAP

ONCAP is the mid-market private equity platform of Onex. ONCAP, in partnership with operating company management teams, invests in and builds shareholder value in North American small and mid-size companies that are leaders in their defined market niche and possess meaningful growth potential. For more information on ONCAP, visit its website at www.oncap.com.

Onex is one of the oldest and most successful private equity firms with offices in Toronto, New York and London. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. Onex' credit platform manages and invests in leveraged loans, collateralized loan obligations and other credit securities. The Company has approximately US$21 billion of assets under management, including US$5.9 billion of Onex capital, in private equity and credit securities. Onex invests its capital through its two investing platforms and is the largest limited partner in each of its private equity funds. For more information on Onex, visit its website at www.onex.com.