Onex Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Onex Partners has acquired 7 companies. It has also invested in 3 others.

Onex Partners’ most common sectors for investment arehealthcare services (15%) and business services (11%) . The Firm’s most common investment types include secondary buyout (27%) and buyout (lbo, mbo, mbi) (22%). In total, Onex Partners has invested in 22 US states and 8 different countries. Its largest (disclosed) acquisition occurred in 2007 when it acquired Allison Transmission Holdings for $5.6B.

In the last 3 years, Onex Partners has exited 9 companies. The Firm’s most common exit type is ipo (35%). Onex Partners’ largest (disclosed) exit occurred in 2014 when it sold Gates Industrial for $5.4B.

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M&A Summary

  • M&A Total Activity90
    • M&A Buy Activity56
    • M&A Sell Activity34
  • Total Sectors Invested 29
  • Total Countries Invested 8
  • M&A Buy/Sell Connections 26
  • M&A Advisors 13

Onex Partners

161 Bay Street, PO Box 700,
Toronto, Ontario M5J 2S1
Canada
(416) 362-7711
www.onex.com/onex-partners
info@onex.com

Onex Partners is the private equity investment arm of Onex Corp., a Canadian based public investment and asset management firm that also invests in real estate and credit securities. Onex Partners targets investments in large companies, and ONCAP which invests in smaller middle-market companies. Both groups consider North American businesses in a wide range of industries with a special interest in aerospace, healthcare, and industrial companies. Prospective transaction situations include corporate carve-outs where the firm can leverage restructuring capabilities. Onex Corp. was established in 1984 and is based in Toronto with an additional office in New York City.


Investment Criteria

Sectors of Interest: Aerospace, Automotive, Business Services, Chemicals, Consumer Products, Consumer Services, Distribution, Education, Electronics, Energy Services and Equipment, Environmental, Financial Services, Furniture, Healthcare Services, Leisure, Machinery, Manufacturing, Medical Products, Metals/Mining, Plastics, Restaurants, Technology Hardware, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Going Private, Special Situations/Distressed, PIPE, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US, Canada, Australia/New Zealand

Transaction Criteria Min Max
Target Revenue 300 -
Target EBITDA - -
Investment Size 50 -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (2.8/yr) # 42 4 5 1 3 1 56
vol $43.3B $5.0B $48.3B
Sell (2.6/yr) # 22 4 4 2 3 - 35
vol $15.8B $1.3B $17.2B
  91

Most Recent M&A

Company Date Value Type
Analytic Partners, Inc. 2022-02-08 - Stake Purchase
Miami, Florida · www.analyticpartners.com
Tes Global Ltd. 2021-12-07 - Secondary Buyout
London, United Kingdom · www.tes.com
SGS & Co. 2021-11-17 - Recapitalization
Louisville, Kentucky · www.sgsco.com
Fidelity Building Services Group 2021-11-09 - Buyout (LBO, MBO, MBI)
Sparks, Maryland · www.fidelitybsg.com
PowerSchool Group LLC 2021-07-28 - IPO
Folsom, California · www.powerschool.com
Ryan Specialty Holdings, Inc. 2021-07-12 - IPO
Chicago, Illinois · www.ryansg.com
Monroe Operations LLC 2021-06-07 - Buyout (LBO, MBO, MBI)
Nashville, Tennessee · www.newporthealthcare.com
Acacium Group 2020-04-16 - Secondary Buyout
London, United Kingdom · www.acaciumgroup.com
Save-A-Lot Food Stores Ltd. 2020-04-03 - Recapitalization
Earth City, Missouri · www.save-a-lot.com
Survitec Group Ltd. 2020-01-01 - Unknown
London, United Kingdom · www.survitecgroup.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Emerald Expositions, Inc. 2013-06-17 Advertising Week 2022-06-28 18
San Juan Capistrano, California · www.emeraldexpositions.com New York, New York · www.advertisingweek.com
Digital Insurance LLC 2017-05-08 Resourcing Edge, Inc. 2022-03-17 73
Atlanta, Georgia · www.onedigital.com Rockwall, Texas · www.resourcingedge.com
Digital Insurance LLC 2017-05-08 Klassman Financial Services - Employee Benefits Division 2021-07-15 72
Atlanta, Georgia · www.onedigital.com Arlington Heights, Illinois
Acacium Group 2020-04-16 CHS Healthcare Ltd. 2021-03-01 2
London, United Kingdom · www.acaciumgroup.com West Midlands, United Kingdom · www.chshealthcare.co.uk
Digital Insurance LLC 2017-05-08 Amplified Benefits Partners - Employee Benefits & Human Resources Services Divisions 2021-02-02 71
Atlanta, Georgia · www.onedigital.com , United States
Digital Insurance LLC 2017-05-08 Novem Benefits 2021-01-26 70
Atlanta, Georgia · www.onedigital.com Rochester, New York
Digital Insurance LLC 2017-05-08 Berkshire Insurance Group - Employee Benefits Division 2020-10-29 69
Atlanta, Georgia · www.onedigital.com Pittsfield, Massachusetts
Partou B.V. 2019-04-04 KidsFoundation Holdings B.V. 2019-04-04 1
Vianen, Netherlands · www.partou.nl , Netherlands · www.kidsfoundation.nl
Imagine Learning 2018-01-04 Glynlyon, Inc. 2019-02-05 7
Stamford, Connecticut · www.imaginelearning.com Chandler, Arizona · www.glynlyon.com
Emerald Expositions, Inc. 2013-06-17 Boutique Design New York - BDNY 2018-10-16 17
San Juan Capistrano, California · www.emeraldexpositions.com New York, New York · www.bdny.com

M&A by Sector

Sector Current # Value All-time # Value
Healthcare Services 2 (10%) - 8 (14%) 1.1B (2%)
Insurance 2 (10%) 560M (5%) 6 (11%) 4.9B (10%)
Business Services 3 (14%) 950M (8%) 6 (11%) 1.9B (4%)
Aerospace 2 (10%) - 4 (7%) 912M (2%)
Engineering 1 (5%) - 3 (5%) 6.1B (13%)
Education 1 (5%) - 3 (5%) 350M (1%)
Packaging - - 2 (4%) 5.0B (10%)
Leisure 1 (5%) 2.1B (19%) 2 (4%) 2.1B (4%)
Machinery - - 2 (4%) 1.5B (3%)
Building Materials - - 2 (4%) 318M (1%)
Automotive - - 1 (2%) 5.6B (11%)
Airlines 1 (5%) 5.0B (45%) 1 (2%) 5.0B (10%)
Manufacturing - - 1 (2%) 5.0B (10%)
Information Services - - 1 (2%) 3.6B (7%)
Medical Products 1 (5%) 2.6B (23%) 1 (2%) 2.6B (5%)
Retail - - 1 (2%) 1.4B (3%)
Safety/Security - - 1 (2%) 693M (1%)
Information Technology - - 1 (2%) 550M (1%)
Consumer Products - - 1 (2%) 245M (1%)
Consumer Services 1 (5%) - 1 (2%) -
Electrical Equipment 1 (5%) - 1 (2%) -
Environmental 1 (5%) - 1 (2%) -
Financial Services 1 (5%) - 1 (2%) -
Internet Software and Services 1 (5%) - 1 (2%) -
Oil/Gas Exploration - - 1 (2%) -
Restaurants - - 1 (2%) -
Software 1 (5%) - 1 (2%) -
Staffing 1 (5%) - 1 (2%) -
Transportation - - 1 (2%) -
Total 21 $11.2B 57 $48.7B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 15 (71%) 4.1B (37%) 42 (74%) 26.2B (54%)
  California 3 (14%) 950M (8%) 6 (11%) 2.3B (5%)
  Texas 3 (14%) - 4 (7%) 1.1B (2%)
  Tennessee 1 (5%) - 3 (5%) 320M (1%)
  Kentucky - - 3 (5%) 1.2B (2%)
  New York 1 (5%) 2.6B (23%) 2 (4%) 4.9B (10%)
  Missouri 1 (5%) - 2 (4%) 1.4B (3%)
  Minnesota 1 (5%) - 2 (4%) 73M (< 1%)
  Colorado - - 2 (4%) 5.0B (10%)
  New Jersey - - 2 (4%) 1.6B (3%)
  Kansas - - 2 (4%) 912M (2%)
  Illinois - - 2 (4%) 710M (1%)
  Pennsylvania - - 2 (4%) 620M (1%)
  Georgia 1 (5%) 560M (5%) 1 (2%) 560M (1%)
  Florida 1 (5%) - 1 (2%) -
  Connecticut 1 (5%) - 1 (2%) -
  Maryland 1 (5%) - 1 (2%) -
  Louisiana 1 (5%) - 1 (2%) -
  Indiana - - 1 (2%) 5.6B (11%)
  Arizona - - 1 (2%) -
  Alabama - - 1 (2%) -
  North Carolina - - 1 (2%) -
  Nevada - - 1 (2%) -
United Kingdom 3 (14%) 2.1B (19%) 6 (11%) 11.3B (23%)
Canada 1 (5%) 5.0B (45%) 3 (5%) 6.3B (13%)
  Ontario - - 2 (4%) 1.3B (3%)
  Alberta 1 (5%) 5.0B (45%) 1 (2%) 5.0B (10%)
Netherlands 1 (5%) - 2 (4%) -
Bermuda 1 (5%) - 1 (2%) -
Switzerland - - 1 (2%) 4.2B (9%)
Germany - - 1 (2%) 731M (2%)
France - - 1 (2%) -
Domestic 1 (5%) 5.0B (45%) 3 (5%) 6.3B (13%)
Cross-border 20 (95%) 6.2B (55%) 54 (95%) 42.4B (87%)
Total 21 $11.2B 57 $48.7B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 5 (24%) - 15 (26%) 7.4B (17%)
Divestiture 3 (14%) 4.1B (37%) 12 (21%) 17.7B (40%)
Buyout (LBO, MBO, MBI) 4 (19%) 2.1B (19%) 12 (21%) 12.6B (29%)
Growth Capital 4 (19%) - 8 (14%) -
Going Private 1 (5%) 5.0B (45%) 4 (7%) 6.1B (14%)
Stake Purchase 3 (14%) - 3 (5%) -
PIPE - - 1 (2%) -
Recapitalization 1 (5%) - 1 (2%) -
Special Situations/Distressed - - 1 (2%) -
Total 21 $11.2B 57 $43.7B

Exits by Deal Type

Type Total # Value
IPO 12 (34%) -
Secondary Sale 7 (20%) 12.2B (71%)
Merger 4 (11%) 1.3B (8%)
Trade Sale 3 (9%) 921M (5%)
Trade Sale - Public Company 2 (6%) 2.0B (11%)
Recapitalization 2 (6%) -
Sold to Existing Investors 1 (3%) 390M (2%)
Sold to Management 1 (3%) 323M (2%)
Bankruptcy 1 (3%) -
SPAC 1 (3%) -
Unknown 1 (3%) -
Total 35 $17.2B

Top M&A Advisors

Financial Deals
Bank of America Merrill Lynch (BofA Securities)
2
UBS Investment Bank
1
J.P. Morgan Securities LLC
1
Legal Deals
Latham & Watkins
4
Fried Frank Harris Shriver & Jacobson LLP
2
DLA Piper
1

Deal Values

buy # Total
> $1B 12 $39.1B
$100M to $1B 17 $9.5B
< $100M 1 $73M
TOTAL $48.7B
Largest Allison Transmission Holdings, Inc.
$5.6B (2007-06-27)
sell # Total
> $1B 6 $15.2B
$100M to $1B 4 $1.9B
< $100M 1 $91M
TOTAL $17.2B
Largest Gates Industrial Corporation plc
$5.4B (2014-07-03)

M&A Connections

Deals
Acquired from
Investor(s)
28%
16 (28%)
Strategic(s)
21%
12 (21%)
Exited to
Investor(s)
23%
8 (23%)
Strategic(s)
29%
10 (29%)

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