Onex_Corporation

Onex Corporation

Onex Corporation

Canadian investment company

Onex Corporation is a Canadian investment management firm founded by Gerry Schwartz in 1984. In December 2023, it had $49.6 billion Canadian dollars under management.

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History

Schwartz founded Onex in 1984 and took the company public in 1987.[2]

In June 2007, General Motors sold Allison Transmission to financial investors Carlyle Group and Onex Corporation.

In 2010, Onex and the Canada Pension Plan acquired English engineering firm Tomkins, though Onex only held 14% of shares.[3]

At the end of 2017, Onex acquired SMG. The company was sold off in 2019 to merge with AEG Facilities to form ASM Global.[4]

In 2019, Onex acquired Gluskin Sheff, a Toronto-based wealth management firm.[5][6]

In May 2020, Onex blamed a first-quarter net loss of $1.1 billion US dollars on the COVID-19 pandemic.[7]

Private equity investments

In December 2019, Onex Corporation purchased WestJet for CA$5.0 billion (equivalent to $5.8 billion in 2023), through its subsidiary Kestrel Bidco.[8]

Current Portfolio[9]

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Realized Portfolio[10]

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References

  1. [1]
    "2019 Annual Report". Onex Corp.
  2. [2]
    "Canada's very own private-equity giant Onex quietly tops returns of big-name U.S. rivals". Financial Post. Bloomberg News. June 26, 2014. Retrieved April 4, 2020.
  3. [3]
    "Onex, Canada Pension to Buy Tomkins for $4.5 Billion". Bloomberg.com. July 27, 2010. Retrieved July 25, 2022.
  4. [4]
    Chapple, Jon (December 11, 2017). "SMG sold to PE firm Onex Corporation". IQ. Retrieved July 25, 2022.
  5. [5]
    "Onex to buy wealth manager Gluskin Sheff in $445 million deal | Financial Post". Financial Post. March 25, 2019. Retrieved November 14, 2019.
  6. [6]
    Vandaelle, Ian (March 22, 2019). "Onex snaps up wealth manager Gluskin Sheff in $445M deal". BNN Bloomberg. Retrieved November 3, 2020.
  7. [7]
    Onex reports US$1.1B Q1 loss on COVID-19 disruption
  8. [8]
    "Gerald Schwartz controlled Onex closes $5B acquisition of WestJet". December 12, 2019.
  9. [9]
    "Portfolio of Investments". www.onex.com. Retrieved February 14, 2024.
  10. [10]
    "Portfolio of Investments". www.onex.com. Retrieved February 14, 2024.
  • ONEX (company website)
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