ONCAP and Griffon Corporation to Form Professional and Consumer Products Joint Venture

Executive Summary

• ONCAP (Onex Corporation) and Griffon Corporation have entered a definitive agreement to create a joint venture that will combine ONCAP‑owned Venanpri tools businesses with Griffon’s AMES consumer and professional products, forming a global provider of hand tools, home organization solutions, and lawn & garden products.
• The joint venture will be owned 57 % by Venanpri (and other ONCAP affiliates) and 43 % by Griffon, and is expected to close by the end of June 2026.
• The combined entity will include leading brands such as Bellota, Burgon & Ball, Corona, ClosetMaid, Garant, Razor‑Back, True Temper and AMES, with operations across North America, Europe, and Latin America.

Key Details

• Parties Involved: ONCAP (lower‑mid‑market private equity platform of Onex Corp.) – majority owner of Venanpri Group; Griffon Corporation.
• Joint Venture Structure:
• Venanpri (and other ONCAP affiliates) will hold a 57 % equity interest.
• Griffon will hold a 43 % equity interest and retain governance participation.
• Businesses Combined:
• Venanpri subsidiaries: Bellota Tools, Corona, Burgon & Ball (professional & consumer tools).
• Griffon’s AMES Companies: Brands and product lines in hand tools, home storage/organization, lawn‑and‑garden products within the Consumer & Professional Products segment.
• Excluded Assets: Venanpri’s Agrisolutions business (Bellota Agrisolutions and Ingersoll brands) remains wholly owned by Venanpri and is not part of the JV.
• Geographic Reach: Customers in North, Central and South America and Europe; major facilities in the United States, Spain, Canada, Mexico, and Colombia.
• Closing Timeline: Transaction subject to customary closing conditions; expected closing by end‑June 2026.
• Advisors & Counsel:
• ONCAP/Venanpri – Financial advisor: Canaccord Genuity LLC; Legal counsel: Torys LLP.
• Griffon – Financial advisor: Goldman Sachs & Co. LLC; Legal counsel: Dechert LLP.
• Strategic Rationale (quoted): Michael Lay (Executive Chair, ONCAP) highlighted leveraging strengths, streamlining operations and achieving economies of scale; Ronald J. Kramer (Chairman & CEO, Griffon) emphasized creating a leading global provider with critical scale and reach.

Notable Quotes

“This transaction brings together global leaders in professional and consumer tools, home storage and organization solutions, and lawn and garden products,” – Michael Lay, Executive Chair, ONCAP.

“The combination of the Venanpri Tools and AMES businesses creates a leading provider… with critical scale and global reach,” – Ronald J. Kramer, Chairman & CEO, Griffon Corporation.