AEROSOL EUROPE: At the beginning of August you announced that the private equity company ONCAP has acquired Precision. What does this change in ownership mean to Precision and to your business?
Mario Barbero: Our new shareholder ONCAP, is the dedicated vehicle for mid-market investing of ONEX, the largest private equity company in Canada and one of the largest and oldest in North America. ONCAP has chosen Precision as a new stand-alone platform investment that they want to support in the next phase of its growth – both organically and through additional acquisitions in partnership with the current management team and employees. When I met the ONCAP management they were aligned with our strategy and agreed with what we have done over the past 3 years under Peak Rock’s ownership. In times of growth we are now going to be more dynamic and really looking for new opportunities. ONCAP is primarily looking for companies on such growth paths for their portfolio, therefore they are an ideal partner for us. Based on their significant experience in the packaging and plastics/injection molding industry from their past and current portfolio companies (e.g. Husky, Krauss Maffei, Davis Standard, IntraPak) ONCAP will give us the necessary support to continuously expand our business.