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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.
 | |
| Company type | Public |
|---|---|
| TSX: ONEX | |
| Industry | Private Equity |
| Founded | 1984 |
| Founder | Gerry Schwartz |
| Headquarters | Toronto, Canada |
Key people | Robert Le Blanc (CEO) |
| Products | Private equity funds, investment vehicles, equity and debt strategies |
| AUM |  CA$48.4 billion (June 30, 2022)[1] |
Number of employees | 536 |
| Website | www.onex.com |
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 $5.2 billion in 2021), through its subsidiary Kestrel Bidco.[8]
Current Portfolio[9]
| Company | Sector | Since |
|---|---|---|
| Acacium Group | Healthcare | September 2020 |
| Advanced Integration Technology | Aerospace & Transportation
Automation & Industrial Technology |
December 2014 |
| Analytic Partners | Business Services & Software | April 2022 |
| ASM Global | Business Services & Software | January 2018 |
| BBAM | Aerospace & Transportation | December 2012 |
| Clarivate | Business Services & Software | October 2016 |
| Convex | Financial Services | April 2019 |
| Emerald Expositions | Business Services & Software | June 2013 |
| Fidelity Building Services Group | Building Products & Construction | December 2021 |
| Imagine Learning | Business Services & Software | March 2021 |
| Morson Group | Business Services & Software | February 2024 |
| Newport Healthcare | Healthcare | July 2021 |
| OneDigital | Financial Services | November 2020 |
| Parkdean Resorts | Business Services & Software | March 2017 |
| PowerSchool Group | Business Services & Software | August 2018 |
| Resource Environmental Solutions | Environmental & Engineering Services | March 2022 - Present |
| SCP Health | Healthcare | July 2015 - Present |
| Sedgwick Claims Management Services | Financial Services | October 2014 - Present |
| Tes Global |
Business Services & Software |
February 2022 - Present |
| Wealth Enhancement Group | Financial Services | September 2021 - Present |
| WestJet | Aerospace & Transportation | December 2019 - Present |
| WireCo WorldGroup | Industrial Manufacturing & Services | September 2016 - Present |
Realized Portfolio[10]
| Company | Sector | Duration |
|---|---|---|
| Allison Transmission | Automotive Aftermarket
Industrial Manufacturing & Services |
August 2007 - June 2014 |
| BrightSpring Health Services | Healthcare | June 2004 - March 2019 |
| Carestream Health | Healthcare | April 2007 - September 2022 |
| Center for Diagnostic Imaging | Healthcare | January 2005 - July 2012 |
| Compagnie Générale de Géophysique | Industrial Manufacturing & Services
Environmental & Engineering Services |
November 2004 - June 2005 |
| Cosmetic Essence | Consumer Products & Services
Industrial Manufacturing & Services |
December 2004 - May 2009 |
| Emergency Medical Services Corporation | Healthcare | February 2005 - May 2011 |
| Genesis Healthcare | Healthcare | December 2005 - August 2017 |
| Hawker Beechcraft Corporation | Aerospace & Transportation
Industrial Manufacturing & Services |
March 2007 - May 2012 |
| Husky International | Automation & Industrial Technology
Industrial Manufacturing & Services Packaging |
December 2007 - June 2011 |
| Jack's Family Restaurants | Food & Beverage
Restaurants & Retail |
July 2015 - August 2019 |
| JELD-WEN Holding | Building Products & Construction
Industrial Manufacturing & Services |
October 2011 - August 2021 |
| KraussMaffei Group | Automation & Industrial Technology
Industrial Manufacturing & Services Packaging |
December 2012 - April 2016 |
| Magellan Health Services | Healthcare | January 2004 - November 2005 |
| Partou | Consumer Products & Services | November 2018 - August 2022 |
| RSI Home Products | Consumer Products & Services
Building Products & Construction Industrial Manufacturing & Services |
October 2008 - February 2013 |
| Ryan | Business Services & Software | October 2018 - August 2023 |
| Save-A-Lot | Consumer Products & Services
Food & Beverage Restaurants & Retail |
December 2016 - April 2020 |
| sgsco | Consumer Products & Services
Packaging |
October 2012 - November 2021 |
| SIG Combibloc Group | Consumer Products & Services
Industrial Manufacturing & Services Packaging |
March 2015 - December 2020 |
| Spirit AeroSystems | Aerospace & Transportation
Industrial Manufacturing & Services |
June 2005 - August 2014 |
| Survitec Group | Aerospace & Transportation
Industrial Manufacturing & Services |
March 2015 - January 2020 |
| The Warranty Group | Financial Services | November 2006 - August 2014 |
| TMS International | Industrial Manufacturing & Services | January 2007 - October 2013 |
| Tomkins Limited | Automotive Aftermarket
Industrial Manufacturing & Services |
September 2010 - July 2014 |
| Tropicana Las Vegas | Leisure & Gaming | May 2009 - August 2015 |
| USI Insurance Services | Financial Services | December 2012 - May 2017 |
References
- ^ "2019 Annual Report". Onex Corp.
- ^ "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.
- ^ "Onex, Canada Pension to Buy Tomkins for $4.5 Billion". Bloomberg.com. July 27, 2010. Retrieved July 25, 2022.
- ^ Chapple, Jon (December 11, 2017). "SMG sold to PE firm Onex Corporation". IQ. Retrieved July 25, 2022.
- ^ "Onex to buy wealth manager Gluskin Sheff in $445 million deal | Financial Post". Financial Post. March 25, 2019. Retrieved November 14, 2019.
- ^ Vandaelle, Ian (March 22, 2019). "Onex snaps up wealth manager Gluskin Sheff in $445M deal". BNN Bloomberg. Retrieved November 3, 2020.
- ^ Onex reports US$1.1B Q1 loss on COVID-19 disruption
- ^ "Gerald Schwartz controlled Onex closes $5B acquisition of WestJet". December 12, 2019.
- ^ "Portfolio of Investments". www.onex.com. Retrieved February 14, 2024.
- ^ "Portfolio of Investments". www.onex.com. Retrieved February 14, 2024.
External links
- ONEX (company website)
