On January 18, 2007 American Capital Strategies Ltd., and an affiliate, American Capital Equity Fund I LLC, invested a total of US$411 million in the acquisition of WIS International from a number of investors, led by ONCAP, Onex Corporation's mid-market private equity group.
American Capital is the second-largest US publicly traded alternative asset manager, with approximately $10 billion in assets under management. American Capital, both directly and through its global asset management business, is an investor in management and employee buyouts, private equity buyouts, and early stage and mature private and public companies.
WIS is a leading global provider of outsourced inventory management services, providing its customers with systems, technology and staff for third-party inventory verification services.
ONCAP is the mid-market private equity business of Onex Corporation, one of Canada's largest corporations with annual consolidated revenues of approximately $19 billion. ONCAP focuses on building shareholder value in North American small and mid-sized companies in partnership with their management teams. To date, ONCAP has acquired eight platform companies, completed 24 total acquisitions and created significant equity value in each of its operating companies.
American Capital was represented by Weil, Gotshal & Manges LLP with a team that included Christopher Aidun and Stephen Solursh (corporate); Martin Amdur (tax); Rocio Clausen and Mariana Pargendler (corporate). Canadian advice to American Capital was provided by Stikeman Elliot LLP with a team that included John Anderson and John Stark (corporate); Dean Kraus and David Muha (tax) and Jennifer MacGregor-Greer and Kimberly Burns (corporate).
ONCAP and other selling shareholders were represented by Goodmans LLP with a team led by Susan Garvie (corporate) and including Jean Anderson (finance); Jon Northup (tax); Jana Steele (pension/benefits) and Brad Ross (corporate). US advice was provided by Mark Wojciechowski and John Ferrell (corporate) of Mayer, Brown, Rowe & Maw LLP.