|Traded as||TSX: ONEX|
|Headquarters||Toronto, Ontario, Canada|
|Gerry Schwartz (CEO/Chairman)|
|Products||Private equity funds, Leveraged buyouts|
Gerry Schwartz had previously worked at Bear Stearns under the investor Jerome Kohlberg, Jr. Kohlberg left in 1976, where he was soon joined by Henry Kravis and George Roberts, and they founded Kohlberg Kravis Roberts. Schwartz returned to Canada, where he started working with Izzy Asper. Schwartz later founded Onex on his own in 1983.
Since its founding, the firm has generated a gross internal rate of return of 28%.
The firm invests in a wide array of industries. It has shown a particular interest in buying the high-cost manufacturing portion of companies and turning these into low cost suppliers. In the 1980s it played this role in the auto parts industry. In 1996 it bought IBM's manufacturing division Celestica. Although the firm has majority control over most of its subsidiaries, rarely does it have whole ownership.
Onex is involved in the American health care industry, owning a number of firms there.[weasel words] They are also in the movie theatre business, both in Canada with Cineplex Entertainment retaining 2 per cent of units, as well as in Mexico with Cinemex, the latter in partnership with U.S.-based Carlyle Group. The first Cinemex Theatre in the US opened in Miami, Florida in August 2017. It is branded “CMX”. The firm has long been invested in the airline industry, and is known for its failed 1999 attempt to buy both Air Canada and Canadian Airlines to merge them.
In 2004 Onex bought Boeing Commercial Airplanes' Kansas and Oklahoma manufacturing facilities, forming Spirit AeroSystems, which was later partially floated in late 2006. In late 2006, Onex became a member of the Airline Partners Australia consortium in a takeover bid for Qantas. In January 2007, Onex signed a deal to acquire the Raytheon Aircraft Company from Raytheon (forming Hawker Beechcraft).
Other companies in which Onex owns a significant stake include, as of November 2008, Sitel, American Medical Response, EmCare, Jeld-Wen, Husky Injection Molding Systems, Canadian Securities Institute and Cici's.
In July 2016, Onex and Baring Asia agreed to buy the Intellectual Property & Science business unit from Thomson Reuters for $3.55 billion.
In December 2017, Onex announced to buy venue operator SMG.
- "Company Profile for Onex Corp (CA;OCX)". Retrieved 2008-10-09.
- "Canada's very own private-equity giant Onex quietly tops returns of big-name U.S. rivals". Financial Post. Retrieved 2015-11-24.
- Air Canada Timeline
- Reuters/Yahoo! News: "GM selling Allison for $5.6 billion," 2007-06-28
- ONEX. ONEX. Retrieved on 2013-09-19.
- Bhaswati Mukhopadhyay (6 May 2013). "Nielsen to sell expositions business to Canadian PE firm for $950 million". Reuters.
- "Private Equity firm Onex has agreed to acquire cartons giant SIG Combibloc Group in a reported $4.6bn deal". Packaging News. Retrieved 2014-11-24.
- "Thomson Reuters to sell IP & Science unit to Onex, Baring Asia for $3.55 bln". Reuters. Retrieved 2016-07-11.
- "Supervalu to Sell Save-A-Lot Chain to Onex for $1.37 Billion".