Investment Summary

Onex Partners Invests In Convex

On April 30, 2019, private equity firm Onex Partners invested in insurance company Convex

Investment Highlights
  • This is Onex Partners’ 6th transaction in the Insurance sector.
  • This is Onex Partners’ 1st transaction in Bermuda.

Investment Summary
Date 2019-04-30
Target Convex
Sector Insurance
Investor(s) Onex Partners
Deal Type Growth Capital

Target

Convex

Smiths, Bermuda
Convex is a specialty property and casualty insurance company headquartered in Bermuda with an office in London. Convex Group writes insurance and reinsurance with a focus on underwriting complex specialty risks across a diversified range of business lines.

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Investor(S) 1

Investor

Onex Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 23.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

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.

DEAL STATS #
Overall 50 of 58
Sector (Insurance) 6 of 6
Type (Growth Capital) 8 of 8
Country (Bermuda) 1 of 1
Year (2019) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-04 KidsFoundation Holdings B.V.

Netherlands

KidsFoundation Holdings B.V. is one of the highest-rated childcare providers in the country. It offers nursery care for children between six weeks and four years old as well as before and after school care services for children between four and 12 years old. The company provides childcare for more than 30,000 children across 281 centres with approximately 3,750 employees.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-13 WestJet Airlines

Calgary, Alberta, Canada

WestJet is Canada’s second largest airline, providing critical infrastructure to Canadians in the form of scheduled service to over 100 destinations in North America, Central America, the Caribbean and Europe. WestJet Airlines was founded in 1994 and is based in Calgary, Alberta.

Buy $5.0B
Mergr

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Company

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