ONCAP

ONCAP is the lower mid-market private equity platform of Onex Corporation, focused on investing in and building value within North American-headquartered small and medium-sized businesses. The firm targets equity investments ranging from $20 million to $250 million in companies with scalable, sustainable competitive positions. ONCAP's investment strategy prioritizes long-term value creation through revenue and EBITDA growth, rather than relying on financial engineering or excessive leverage. The firm actively supports value creation strategies and infrastructure investments aimed at fostering sustained success for its operating companies, benefiting shareholders, management teams, and employees.

Established in 2000, ONCAP serves as the dedicated lower mid-market private equity arm of Onex Corporation. Michael Lay, who joined ONCAP in 2000, currently serves as the Executive Chair, playing a significant role in the firm's leadership and investment decision-making processes.

Over its 25-year history, ONCAP has demonstrated a strong track record, completing 38 platform investments and over 200 add-on acquisitions. Notable recent investments include Chute Source (2026), Metro Compactor Service (2026), Hermes Schleifmittel (2025), CSN Collision (2025), and Team Velocity (2025). Other significant portfolio companies have included Biomerics (2023), Ideal Dental Management Partners (2022), Merrithew (2022), Komar Industries (2021), and Wyse Meter Solutions.

ONCAP boasts an experienced and committed investment team, with senior leadership collectively possessing over 119 years of private equity experience and an average tenure of 17 years working together. Key team members include Michael Lay (Executive Chair), Steve Marshall (Managing Partner, Co-Head), and Adam Shantz (Managing Partner, Co-Head). The firm fosters a collaborative, team-based approach to investing, emphasizing respect, collaboration, well-being, and diversity. To ensure strong alignment of interests, ONCAP team members invest personal capital in every operating company.