Since 1984, the Onex team has pursued a value-oriented approach to its private equity investing. This strategy has returned
3.4x invested capital and generated a
29% IRR on realized and publicly traded investments over 26 years.
Our value-orientation is reflected in a disciplined approach to purchase price and leverage. During 2007, Onex Partners invested over $2.6 billion of equity at an average
purchase price multiple of 7x and with
debt of 4.8x EBITDA – during this same period, the private equity industry saw average purchase price multiples of 10x and debt of 6.2x EBITDA. Our focus on acquiring outstanding businesses at reasonable prices while using prudent leverage has continued to provide great returns for our shareholders and limited partners – our first Onex Partners fund, launched in 2004, has returned
4.1x invested capital and generated a
74% IRR on realized and publicly traded investments.
Through more than 220 primary and follow-on acquisitions, Onex has developed a focus in three areas where we differentiate ourselves from other private equity investors:
Corporate carve-outs of mission-critical supply divisions from multinational corporations. We negotiate agreements, augment management and address the systems, supply chain and working capital issues that often accompany these complicated transactions. Learn more about the corporate carve-out of
Spirit AeroSystems from The Boeing Company.
Operational restructurings of undervalued businesses where we can reorganize assets, implement cost savings and refocus the organization on growth.
Deep expertise in aerospace, healthcare and industrials provides Onex with a meaningful advantage in sourcing, diligencing and adding value to investments in these industries.
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.
Onex Partners
ONCAP
Direct Investments