M&A Deal Summary

The Sterling Group Acquires Precision Concepts International

On July 15, 2025, private equity firm The Sterling Group acquired packaging company Precision Concepts International from ONCAP Management Partners

Acquisition Highlights
  • This is The Sterling Group’s 5th transaction in the Packaging sector.
  • This is The Sterling Group’s 51st transaction in the United States.
  • This is The Sterling Group’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2025-07-15
Target Precision Concepts International
Sector Packaging
Buyer(s) The Sterling Group
Sellers(s) ONCAP Management Partners
Deal Type Secondary Buyout
Advisor(s) William Blair
Stifel (Financial)
Kirkland & Ellis (Legal)

Target

Precision Concepts International

Mooresville, North Carolina, United States
Precision Concepts International is a specialty plastic packaging company providing a broad array of packaging solutions to the personal care and pharmaceutical markets. Precision Concepts International was founded in 2003 and is based in Mooresville, North Carolina.

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Buyer(S) 1

Buyer

The Sterling Group

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Sterling Group is a private equity firm focused on acquiring middle-market businesses within basic manufacturing, industrial services, and distribution. Sterling looks for companies valued from $100 to $1000 million with positive cash-flow, strong market positions, and potential to grow. Sterling avoids investments in financial services, real estate, healthcare, or information technology companies. The Sterling Group was formed in 1982 and is based in Houston, Texas.


DEAL STATS #
Overall 54 of 54
Sector: Packaging M&A 5 of 5
Type: Secondary Buyout M&A Deals 14 of 14
State: North Carolina M&A 1 of 1
Country: United States M&A 51 of 51
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-21 West Star Aviation

East Alton, Illinois, United States

West Star Aviation is an independent maintenance, repair, and overhaul (MRO) provider that offers comprehensive services. The company’s extensive capabilities encompass airframe maintenance, paint, interior, and avionics services, supported by the largest Aircraft On Ground (AOG) technician network in the country, ensuring prompt and reliable mobile repair services nationwide. West Star Aviation was founded in 1952 and is based in East Alton, Illinois.

Sell -

Seller(S) 1

SELLER

ONCAP Management Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ONCAP is the mid-market private equity business of Onex Corporation. ONCAP looks to invest in small and mid-sized North American businesses where it can commit $20 to $200 million of equity capital. ONCAP considers investment opportunities in a wide range of industry sectors. Situations of interest include, complete or partial sales of a closely held private companies, divestitures, companies seeking equity capital to pursue key strategic initiatives, and take privates. ONCAP was established in 1999 and is based in Toronto.


DEAL STATS #
Overall 19 of 19
Sector: Packaging M&A 1 of 1
Type: Secondary Buyout M&A Deals 8 of 8
State: North Carolina M&A 1 of 1
Country: United States M&A 10 of 10
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-02 Mid-State Industrial Maintenance

Lakeland, Florida, United States

Mid-State Industrial Maintenance is a provider of on-site and off-site industrial maintenance and service solutions. Mid-State serves as an outsourced maintenance and repair services provider to customers in the chemical processing, phosphate mining, power generation, and building products industries throughout the southeastern United States. Mid-State Industrial Maintenance was founded in 1973 and is based in Lakeland, Florida.

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