For more than 29 years, Onex has employed an active ownership approach in acquiring and building high-quality businesses. Onex manages its own capital and that of third-party investors from around the world, including public and private pension funds, sovereign wealth funds, banks, insurance companies and others. The Company has generated 2.8 times capital on realized, substantially realized and publicly traded investments.
Active ownership approach
Throughout our history, we have developed a distinctive approach to acquiring, transforming and building high-quality businesses. We look for global businesses with world-class core capabilities, strong free-cash-flow characteristics to pay down debt and often a considerable cost-saving opportunity. Our thesis focuses on execution rather than macro-economic or industry outlook trends with the goal of building market leaders and ultimately creating 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) accretive consolidations in a wide variety of industries.
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 enables us to exercise the rights of ownership, particularly the ability to make strategic decisions. 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.