Onex Corporation is a Canadian investment management firm founded by Gerry Schwartz in 1984.[1] In November 2022, it had CAD $47 billion dollars under management.[1]
History
Schwartz founded Onex in 1984 and took the company public in 1987.[2]
In June 2007, General Motors sold Allison Transmission to financial investors Carlyle Group and Onex Corporation.
In 2010, Onex and the Canada Pension Plan acquired English engineering firm Tomkins, though Onex only held 14% of shares.[3]
At the end of 2017, Onex acquired SMG. The company was sold off in 2019 to merge with AEG Facilities to form ASM Global.[4]
In 2019, Onex acquired Gluskin Sheff, a Toronto-based wealth management firm.[5][6]
In December 2019, Onex purchased Canada's second-largest airline WestJet for CA$5.0billion (equivalent to $ billion in ).[7]
In May 2020, Onex blamed a first-quarter net loss of $1.1 billion US dollars on the COVID-19 pandemic.[8]
Founder Schwartz stepped down as CEO in May 2022 and was replaced by Bobby Le Blanc.[9]
External links
- ONEX (company website)
References
- Gerry Schwartz to step down as CEO at Onex, Bobby Le Blanc named next CEO Delta Optimist, Lodestar Media, 2022-11-11, retrieved 2026-02-22^
- Canada's very own private-equity giant Onex quietly tops returns of big-name U.S. rivals Financial Post, 2014-06-26, retrieved 2020-04-04^
- Howard Mustoe. Onex, Canada Pension to Buy Tomkins for $4.5 Billion Bloomberg.com, 2010-07-27, retrieved 2022-07-25^
- Jon Chapple. SMG sold to PE firm Onex Corporation IQ, 2017-12-11, retrieved 2022-07-25^
- Onex to buy wealth manager Gluskin Sheff in $445 million deal Financial Post, 2019-03-25, retrieved 2019-11-14^
- Ian Vandaelle. Onex snaps up wealth manager Gluskin Sheff in $445M deal BNN Bloomberg, 22 March 2019, retrieved 3 November 2020^
- Gerald Schwartz controlled Onex closes $5B acquisition of WestJet Private Capital Journal, December 12, 2019, retrieved 2025-07-30^
- Onex reports US$1.1B Q1 loss on COVID-19 disruption BNN Bloomberg, retrieved February 5, 2021^
- Schwartz officially steps down as Onex CEO as share plan approved Times Colonist, Lodestar Media, 2023-05-11, retrieved 2026-02-22^