This week we continue our conversation with Mark MacTavish, a Managing Director at ONCAP, which is the dedicated middle market private equity platform of Onex Corporation. Onex was founded in 1984 and manages approximately $24 billion in assets, principally through two private equity platforms, in which each Onex is the largest investor. In November 2016, ONCAP raised ONCAP IV, a $1.1 billion fund and seeks to invest $50 to $200 million for control or substantial minority ownership positions in North American headquartered businesses which generate EBITDA in excess of $15 mm across a broad range of industries.
Mark joined ONCAP at its inception in January 2000 in Toronto and relocated to New York in 2017. Mark oversees ONCAP’s U.S. office and leads ONCAP’s origination and due diligence and portfolio company efforts in the Consumer sector including Consumer Products, Food & Beverage, and Specialty Retail. Second of two parts – View part one.
The Lead Left: What kind of opportunities do you look for?
Mark MacTavish: Ideally we’d invest $50 million to $150 million of equity in each $15 mm+ EBITDA platform investment, however, we can invest up to $200 million per transaction. Once a transaction requires in excess of $200 million of equity it is a better fit for Onex Partners which focuses on larger opportunities.
In terms of industries, each of the Partners at ONCAP lead our efforts in certain sectors. I generally focus on most areas of consumer and have colleagues focused on various sectors including agriculture, automotive aftermarket, building products, business services, industrials, and healthcare amongst others.
We consider ourselves to be value investors and are focused on helping good companies become great by leveraging our collective experience and network to grow and improve these businesses.