What Companies Does Onex Own?

Onex Corporation is a leading investment manager in the private equity industry, managing capital on behalf of shareholders, institutional investors, and high net worth clients. With approximately US$51 billion of assets under management as of September 30, 2022, Onex is known for its extensive portfolio of companies and strategic acquisitions.

Founded in 1984 by Gerry Schwartz and headquartered in Toronto, Canada, Onex has established itself as a prominent player in the global investment landscape. Under the leadership of CEO Robert Le Blanc, the company offers a range of investment products including private equity funds, investment vehicles, and equity and debt strategies.

With a diverse portfolio of companies and subsidiaries, Onex continues to expand its footprint in various sectors. Let’s explore some key details about Onex and the companies it owns.

Key Takeaways:

• Onex Corporation is an investment manager operating in the private equity industry.
• Onex manages approximately US$51 billion of assets under management.
• Founded in 1984 by Gerry Schwartz, Onex is headquartered in Toronto, Canada.
• Robert Le Blanc serves as the CEO of Onex.
• Onex offers private equity funds, investment vehicles, and equity and debt strategies.
• The company has a diverse portfolio of companies under its ownership.

Onex’s Private Equity Investments

Onex Corporation has established a significant presence in the private equity space through its various investment platforms. The primary platform for Onex’s private equity investments is Onex Partners, which was launched in 2003. The majority of the company’s private equity investments are made through this platform. Additionally, Onex launched ONCAP in 2000, which focuses on smaller and middle-market opportunities.

The Onex Partners fund has been instrumental in enabling the company to make strategic investments across a wide range of industries. It has allowed Onex to partner with exceptional management teams and drive value creation within its portfolio companies. Through Onex Partners, Onex has successfully executed various investment strategies, including buyouts, growth capital, and strategic acquisitions.

Onex Partners

Onex Partners is Onex’s primary private equity platform, managing investments across a diverse range of sectors. The platform seeks opportunities where it can leverage its industry knowledge, operational expertise, and financial resources to generate attractive returns. Onex Partners typically targets established businesses with strong growth prospects, which it aims to further enhance through active ownership and operational improvements.

ONCAP

In addition to Onex Partners, Onex operates ONCAP, an investment vehicle focused on smaller and middle-market companies. ONCAP takes a hands-on approach to investing and works closely with management teams to drive growth and operational improvements. By leveraging Onex’s extensive resources and experience, ONCAP aims to create lasting value and help companies reach their full potential.

Private Equity Platforms	Launch Year	Investment Focus
Onex Partners	2003	Wide range of sectors, including established businesses
ONCAP	2000	Smaller and middle-market companies

Onex’s Key Acquisitions and Holdings

Onex Corporation has built a diverse portfolio of companies through its strategic acquisitions and investments. These holdings span various industries and sectors, showcasing Onex’s ability to identify promising opportunities and drive growth. Here are some of Onex’s notable acquisitions and subsidiaries:

Acquisition: Allison Transmission

In June 2007, Onex, in partnership with the Carlyle Group, acquired Allison Transmission from General Motors. Allison Transmission is a leading manufacturer of commercial-duty automatic transmissions and hybrid propulsion systems. This acquisition allowed Onex to enter the transportation industry and tap into the growing demand for advanced transmission solutions.

Acquisition: SMG

At the end of 2017, Onex successfully acquired SMG, a global leader in venue management. SMG operates a diverse portfolio of convention centers, stadiums, arenas, and other entertainment venues worldwide. This acquisition enabled Onex to expand its presence in the events and hospitality industry and leverage SMG’s expertise in venue operations and management.

Acquisition: Gluskin Sheff

In 2019, Onex acquired Gluskin Sheff, a premier wealth management firm based in Toronto, Canada. Gluskin Sheff offers a range of investment strategies, including public equity and public credit. This acquisition strengthened Onex’s financial services capabilities and provided access to a broader client base seeking tailored wealth management solutions.

Acquisition: WestJet

Through its subsidiary Kestrel Bidco, Onex acquired WestJet, a leading Canadian airline, in December 2019. WestJet operates an extensive network of domestic and international flights, serving millions of passengers each year. This acquisition marked Onex’s entry into the aviation industry and positioned the company to capitalize on the growing demand for air travel.

These acquisitions highlight Onex’s commitment to identifying and investing in companies with strong growth potential and enhancing their long-term value. By diversifying its portfolio and expanding into new industries, Onex continues to solidify its position as a leading investment manager.

Acquisition	Date	Industry
Allison Transmission	June 2007	Transportation
SMG	December 2017	Events and Hospitality
Gluskin Sheff	2019	Wealth Management
WestJet	December 2019	Aviation

Onex’s Asset Management Services

In addition to its robust private equity investments, Onex Corporation offers a range of asset management services to support its investment strategies. These services provide additional avenues for Onex to generate returns and drive value for its shareholders, institutional investors, and high net worth clients.

Onex Credit:

As part of its asset management offerings, Onex manages and invests in various credit securities through its credit-focused division, Onex Credit. This division specializes in collateralized loan obligations (CLOs), leveraged loans, and other credit instruments. By leveraging its expertise in credit strategies, Onex aims to deliver attractive risk-adjusted returns to its investors.

Liquid Strategies:

Onex also offers a range of liquid strategies designed to meet the investment needs of its clients. These strategies provide liquidity and flexibility, allowing investors to access their capital as needed. Whether it’s through public equity, public credit, or other liquid investment options, Onex strives to provide tailored solutions that align with the investment objectives of its clients.

Overall, Onex’s asset management services complement its private equity investments, allowing the company to diversify its revenue streams and capitalize on various investment opportunities. By leveraging its deep industry knowledge and global network, Onex is well-positioned to navigate the ever-changing investment landscape and deliver value to its stakeholders.