Latest news with #ONCAP
Time of India
4 days ago
- Business
- Time of India
Green energy sector will play crucial role in generating jobs: Lokesh
Vijayawada: Minister for education and IT, Nara Lokesh, emphasised that the green energy sector will play a crucial role in generating future employment opportunities for youth and women in Andhra Pradesh. Speaking at the Green energy conference held at the Novotel Hotel in Vijayawada, Lokesh announced the govt's commitment to creating 20 lakh jobs over the next five years. The conference, jointly organised by the AP Skill Development Corporation and Swaneethi Initiative, focused on the theme 'Andhra Pradesh as a Solar and Wind Energy Talent Hub.' Lokesh highlighted the importance of skilling the youth in tune with global green energy demands. "By improving their skills in line with changing times, the youth will gain excellent job opportunities globally," he said, adding, "We will launch a dedicated skill portal on September 1 to connect skilled youth with the private sector." Lokesh outlined the state's cluster-based development strategy and mentioned that specialised hubs will be developed across the state — including renewable energy in Kurnool, CBG in Prakasam, electronics manufacturing in Chittoor and Kadapa, and Quantum Valley in Guntur and Krishna. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Is Why Smart People Put Baking Soda in Their Shampoo Read More Undo "Our goal is to develop a cluster every 100 km and bring in the top 20 companies in each sector," he said. Citing a real-life example from his Yuvagalam Padayatra, Lokesh shared how a woman from Anantapur transformed her life by working at Kia Ancillary Units and now earns ₹40,000 per month. "The green energy sector can bring such life-changing opportunities to rural women," he noted. Lokesh concluded by stating that Andhra Pradesh will lead the renewable energy transition and ensure youth are trained to seize domestic and international opportunities through initiatives like ONCAP.
Yahoo
17-07-2025
- Business
- Yahoo
Sterling signs agreement to acquire Precision Concepts International stake
The Sterling Group, a private equity company located in the US, has reached a definitive agreement to purchase a substantial stake in speciality rigid packaging solutions provider Precision Concepts International (PCI) from ONCAP. The financial details of the deal have not been divulged by the companies. PCI CEO Ray Grupinski said: 'I would like to thank ONCAP for their consistent, supportive partnership over the last eight years and their confidence in us to continue as a minority investor. 'Sterling's decades-long commitment to employee buy-in and their proven track record within the industry is clear, and we look forward to working together towards continued growth and success in the years ahead.' PCI operates five manufacturing facilities throughout the US, along with additional sites in Canada and Costa Rica. The company primarily serves small to mid-sized enterprises in the stable consumer sectors, including household, personal care, and food and beverage. Under the terms of the agreement, Sterling will work alongside existing investors, including ONCAP and management, to support the future development of PCI. Ken Swanson, former CEO of Liqui-Box, which is part of Sterling's portfolio, will assume the role of chair of PCI's board of directors once the transaction is finalised. ONCAP senior managing director Ryan Mashinter said: 'It has been a privilege to partner with Ray and the outstanding PCI team. PCI reflects the essence of ONCAP's investment approach - backing talented, ambitious leadership teams and executing against deep theses in our core sectors of emphasis where we have longstanding conviction. 'We're excited to continue our journey with PCI alongside The Sterling Group as the business enters its next chapter of growth.' Evercore served as the financial advisor while Latham & Watkins provided legal counsel to Sterling. William Blair and Stifel functioned as financial advisors, and Kirkland & Ellis served as the legal advisor to PCI. "Sterling signs agreement to acquire Precision Concepts International stake" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
15-07-2025
- Business
- Yahoo
Onex stock ticks lower after Sterling Group acquires PCI stake
-- Onex Corp (TSX:ONEX) stock ticked lower by 1% on Tuesday following the announcement that The Sterling Group has agreed to acquire a majority ownership stake in Precision Concepts International, LLC (PCI) from ONCAP, Onex's lower mid-market private equity platform. Houston-based Sterling Group will partner with existing PCI investors, including ONCAP and management, to support the specialty rigid packaging solutions provider's continued growth. The financial terms of the transaction were not disclosed. PCI, headquartered in Huntersville, North Carolina, operates five manufacturing facilities across the U.S., with additional locations in Canada and Costa Rica. The company services small to mid-size companies in consumer-focused sectors including personal care, household, and food and beverage products. Upon closing of the transaction, Ken Swanson, former CEO of Sterling portfolio company Liqui-Box, will serve as Chairman of PCI's Board of Directors. Ray Grupinski will continue as PCI's Chief Executive Officer. "PCI's unique track record of elevated customer service and product quality is the perfect foundation for continued expansion," said Greg Elliott, Partner at The Sterling Group, adding that the firm looks forward to helping accelerate PCI's nationwide expansion. Ryan Mashinter, Senior Managing Director at ONCAP, noted that ONCAP will continue its journey with PCI alongside The Sterling Group as "the business enters its next chapter of growth." Evercore acted as financial advisor to The Sterling Group, while William Blair and Stifel served as financial advisors to PCI for the transaction. Related articles Onex stock ticks lower after Sterling Group acquires PCI stake Victoria's Secret Exposed: The Warning Sign Behind the Stock's 52% Collapse Buy this massive AI stock into upcoming Q2 print: Morgan Stanley Sign in to access your portfolio
