{{Short description|Canadian investment company}} {{Use Canadian English|date = April 2020}} {{Use mdy dates|date = April 2020}} {{udp|date=February 2024}} {{Infobox company | logo = Onex Corporation.svg | name = Onex Corporation | type = Public | traded_as = {{TSX|ONEX}} | founded = {{start date and age|1984}} | location = Toronto, Canada | industry = Private equity | products = Private equity funds, investment vehicles, equity and debt strategies | aum = CA$47 billion <small>(November 2022)</small><ref name=Optimist2022/> | num_employees = 536{{Citation needed|date=March 2026}} | key_people = Robert Le Blanc (CEO) | founder = Gerry Schwartz | website = {{url|https://www.onex.com/}} }}
'''Onex Corporation''' is a Canadian investment management firm founded by Gerry Schwartz in 1984.<ref name=Optimist2022>{{Cite news |url=https://www.delta-optimist.com/national-business/gerry-schwartz-to-step-down-as-ceo-at-onex-bobby-le-blanc-named-next-ceo-6090509 |title=Gerry Schwartz to step down as CEO at Onex, Bobby Le Blanc named next CEO |location=Toronto |agency=Canadian Press |date=2022-11-11 |accessdate=2026-02-22 |newspaper=Delta Optimist |publisher=Lodestar Media}}</ref> In November 2022, it had CAD $47 billion dollars under management.<ref name=Optimist2022/>
== History == Schwartz founded Onex in 1984 and took the company public in 1987.<ref name="quietly">{{Cite news |date=2014-06-26 |title=Canada's very own private-equity giant Onex quietly tops returns of big-name U.S. rivals |work=Financial Post |agency=Bloomberg News |url=https://business.financialpost.com/news/fp-street/onex-corp-gerry-schwartz |access-date=2020-04-04}}</ref>
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.<ref>{{Cite news |first=Howard |last=Mustoe |date=2010-07-27 |title=Onex, Canada Pension to Buy Tomkins for $4.5 Billion |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2010-07-27/tomkins-agrees-to-be-bought-by-onex-canada-pension-plan-for-4-4-billion |access-date=2022-07-25}}</ref>
At the end of 2017, Onex acquired SMG. The company was sold off in 2019 to merge with AEG Facilities to form ASM Global.<ref>{{Cite web |last=Chapple |first=Jon |date=2017-12-11 |title=SMG sold to PE firm Onex Corporation |url=https://www.iq-mag.net/2017/12/smg-sold-private-equity-firm-onex-corporation/ |access-date=2022-07-25 |website=IQ|language=en-GB}}</ref>
In 2019, Onex acquired Gluskin Sheff, a Toronto-based wealth management firm.<ref>{{Cite news |date=2019-03-25 |title=Onex to buy wealth manager Gluskin Sheff in $445 million deal {{!}} Financial Post |url=https://business.financialpost.com/news/fp-street/onex-to-buy-wealth-manager-gluskin-sheff-in-445-million-deal |access-date=2019-11-14 |website=Financial Post|language=en-CA}}</ref><ref>{{Cite web |last=Vandaelle |first=Ian |date=22 March 2019 |title=Onex snaps up wealth manager Gluskin Sheff in $445M deal |url=https://www.bnnbloomberg.ca/onex-snaps-up-wealth-manager-gluskin-sheff-in-445m-deal-1.1233479 |access-date=3 November 2020 |website=BNN Bloomberg}}</ref>
In December 2019, Onex purchased Canada's second-largest airline WestJet for {{CA$|5.0|link=yes}}{{nbsp}}billion (equivalent to ${{Inflation|CA|5|2019|r=1}} billion in {{Inflation/year|CA}}).<ref>{{Cite web|url=https://privatecapitaljournal.com/gerald-schwartz-controlled-onex-closes-5b-acquisition-of-westjet/|title = Gerald Schwartz controlled Onex closes $5B acquisition of WestJet |website=Private Capital Journal |date = December 12, 2019 |accessdate=2025-07-30}}</ref>
In May 2020, Onex blamed a first-quarter net loss of $1.1 billion US dollars on the COVID-19 pandemic.<ref>{{Cite news |url=https://www.bnnbloomberg.ca/onex-reports-us-1-1b-q1-loss-on-covid-19-disruption-1.1436859 |title=Onex reports US$1.1B Q1 loss on COVID-19 disruption |work=BNN Bloomberg |archive-date=June 3, 2020 |access-date=February 5, 2021 |archive-url=https://web.archive.org/web/20200603230651/https://www.bnnbloomberg.ca/onex-reports-us-1-1b-q1-loss-on-covid-19-disruption-1.1436859 |url-status=dead }}</ref>
Founder Schwartz stepped down as CEO in May 2022 and was replaced by Bobby Le Blanc.<ref>{{Cite news |url=https://www.timescolonist.com/national-business/schwartz-officially-steps-down-as-onex-ceo-as-share-plan-approved-6986742 |title=Schwartz officially steps down as Onex CEO as share plan approved |date=2023-05-11 |newspaper=Times Colonist |location=Toronto |agency=Canadian Press |publisher=Lodestar Media |accessdate=2026-02-22}}</ref>
==References== {{Reflist}}
==External links== *[https://www.onex.com/ ONEX] (company website)
{{Onex Corporation}} {{Private equity and venture capital}} {{Authority control}}
Category:Onex Corporation Category:Financial services companies established in 1984 Category:Companies listed on the Toronto Stock Exchange Category:Private equity firms of Canada Category:Holding companies of Canada Category:Companies based in Toronto Category:Holding companies established in 1984 Category:Canadian companies established in 1984 Category:Investment companies of Canada Category:1980s initial public offerings