TORONTO, ONTARIO--(MARKET WIRE)--Nov 10, 2008 -- Penfund, an independent investment company specializing in providing capital to middle market companies, announced today a US$34 million investment in Caliber Collision Centers ("Caliber"), a portfolio company of ONCAP Management Partners L.P. ("ONCAP"). The terms of Penfund's investment were not disclosed.

Headquartered in Irvine, California, Caliber is the largest non-franchised collision repair center operator in the United States with 66 centers in California and Texas. The company provides vehicle owners and automobile insurers with high quality, timely repairs in conveniently located, modern facilities.

Richard Bradlow, Partner, Penfund stated that "Caliber has a proven management team supported by the experience and resources of ONCAP. We believe Caliber is well positioned to grow its share of the collision repair market as auto insurance companies increasingly look to large, trusted repair operators to deliver high quality services to their policyholders".

About Caliber Collision Centers

Founded in 1997, with headquarters in Irvine, Caliber currently owns and operates 66 professionally managed collision repair facilities in California and Texas. Caliber will continue to open and develop new locations in response to market needs and customer demand for quality collision repair services. Additional information on Caliber may be found at www.calibercollision.com.

About Penfund

Penfund is an independent investment company specializing in providing junior capital to middle market companies. Penfund provides high yield and mezzanine debt, minority and control equity, as well as bridge facilities, standby lines, underwritten facilities and financial guarantees. The firm is owned by its management team and is currently investing its most recently established fund, Penfund Capital Fund III. Penfund manages institutional funds sourced from Canadian pension funds and insurance companies and has invested more than $2.2 billion in over 200 companies since its establishment in 1979. Additional information on Penfund may be found at www.penfund.com.

About ONCAP

ONCAP is the mid-market private equity firm of Onex Corporation. Onex is one of North America's oldest and most successful private equity firms. It makes private equity investments through the Onex Partners and ONCAP families of funds. Onex also manages alternative asset platforms focused on Real Estate and Credit Securities. In total, Onex has more than $10 billion of assets under management. Onex shares trade on the Toronto Stock Exchange under the symbol OCX. For additional information on ONCAP, please visit www.oncap.com.

     Contacts:
     Penfund
     Richard Bradlow
     (416) 645-3794
     Email: richard@penfund.com
     Website: http://www.penfund.com
      
     Caliber Collision Centers
     Shannon Lynard
     Communications Specialist
     (949) 224-0300
     Email: shannon.lynard@calibercollision.com
     Website: http://www.calibercollision.com