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Investing / Private Equity / Onex Partners / Hawker Beechcraft text size [+][]
Hawker Beechcraft
Industry: Aircraft and Aftermarket
Investment date: March 2007
Acquired by: Onex Partners II
Investment: $572 million /
$225 million from Onex
Status: Realized
Final realization: December 2015
Value realized: $55 million / $22 million by Onex
Head office: Wichita, Kansas

Hawker Beechcraft Corporation ("Hawker Beechcraft")was a business, special-mission and trainer aircraft manufacturer, designing, marketing and supporting aviation products and services for businesses, governments and individuals worldwide.  The company was formerly a division of Raytheon Company.

The decline in the general aviation industry from 2008 to 2012 resulted in Hawker Beechcraft Corporation being unable to meet certain of its financial obligations. As a result, Hawker Beechcraft filed for bankruptcy protection in the United States in the second quarter of 2012 and Onex ceased exerting significant influence over Hawker Beechcraft. In February 2013, Hawker Beechcraft exited bankruptcy.  Onex no longer holds an interest in the company and received a final distribution from the bankruptcy proceedings in December 2015. 

The Onex Partners II Group received total proceeds of $55 million, resulting in a gross multiple of invested capital of approximately 0.1x.  Onex' share of the total proceeds was $22 million.