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Investing / Private Equity / ONCAP text size [+][]
The ONCAP funds focus on value-oriented, private equity opportunities in medium-sized businesses located in North America. Investments typically have an enterprise value of up to C$500 million.

ONCAP I was launched in 1999 with C$400 million of committed capital – C$120 million from Onex – and invested in six platform operating companies and completed 15 add-on acquisitions. The fund achieved a 43% gross IRR and 4.1x gross multiple of cost (33% net IRR; 3.1x net MOC) when it was fully realized in 2007.

ONCAP II was established in 2005 with C$574 million of committed capital, C$252 million of which came from Onex. To date, ONCAP II has invested C$483 million in eight platform operating companies and completed 88 add-on acquisitions.

ONCAP III was established in 2011 with capital commitments of C$800 million, of which C$252 million came from Onex. To date, ONCAP III has invested C$556 million in seven platform operating companies and completed 13 add-on acquisitions.

Click here to learn more about our return on invested capital.

The ONCAP team has approximately 20 professionals who are led by Michael Lay . The ONCAP team is supported by Onex' financial, legal, IR and tax professionals.

ONCAP I Investments ONCAP II Investments ONCAP III Investments
Currently Held EnGlobe Corp. Hopkins Manufacturing
     CiCi’s Pizza Pure Canadian Gaming
     Pinnacle Renewable Energy Group Davis-Standard
Pure Canadian Gaming Bradshaw
     Mavis Discount Tire
Ingersoll Tools Group
     Chatters Canada
Realizations Armtec CSI Global Education     
Canadian Securities Registration Systems BSN SPORTS
Futuremed Caliber Collision Centers     
EnSource Mister Car Wash         
WIS International          
CMC Electronics