ONCAP, Griffon Sign Agreement To Create JV

ONCAP, the lower mid-market private equity platform of Onex Corporation (TSX:ONEX), and Griffon Corporation (NYSE: GFF) ("Griffon") announced today they have entered into a definitive agreement to form a joint venture creating a leading global provider of hand tools, home organization solutions, and lawn and garden products for professionals and consumers.

The joint venture will combine Bellota Tools, Corona, and Burgon & Ball, which are currently subsidiaries of the Venanpri Group ("Venanpri"), ONCAP's majority-owned portfolio company, and Griffon's AMES Companies ("AMES") businesses in North America, which are currently part of Griffon's Consumer and Professional Products ("CPP") segment. The Venanpri companies within the joint venture are leading global providers of professional and consumer tools, and the AMES companies within the joint venture are leading providers of branded consumer and professional tools, home storage and organization solutions, and lawn and garden products in North America.