Over its 30-year history, Onex has employed an active approach to building industry-leading businesses. Onex manages its own capital and that of investors from around the world, including public and private pension funds, sovereign wealth funds, banks and insurance companies. The Company has generated a gross multiple of capital invested of 3.0 times on realized, substantially realized and publicly traded investments.
Active ownership approach
Throughout our history, we have developed a successful approach to private equity investing. We pursue businesses with world-class core capabilities and strong free cash flow characteristics where we have identified an opportunity, in partnership with company management, to effect change and build market leaders. As an active owner, we are focused on execution theses rather than macro-economic or industry trends with the goal of creating long-term value for Onex and our investors. Specifically, we focus on (i) carve-outs of subsidiaries and mission-critical supply divisions from multinational corporations; (ii) cost reductions and operational restructurings; and (iii) platforms for add-on acquisitions.
We have historically been conservative with the use of financial leverage, which has served Onex and its businesses well through many cycles.
We typically acquire a control position in our businesses, which allows us to drive important strategic decisions to accelerate growth and effect change in our operating businesses. Onex does not get involved in the daily operating decisions of the businesses.
Today, Onex' private equity investment activities are conducted exclusively through its Onex Partners and ONCAP fund families. Onex participates in all these funds as the largest limited partner and through its ownership of the funds' general partners and managers.