Onex Corporation

Onex Corporation
TypePublic
TSX: ONEX
IndustryPrivate equity
Founded1984; 42 years ago (1984)
FounderGerry Schwartz
HeadquartersToronto, Canada
Key peopleRobert Le Blanc (CEO)
ProductsPrivate equity funds, investment vehicles, equity and debt strategies
AUMCA$47 billion (November 2022)
Number of employees
536[citation needed]
Websitewww.onex.com

Onex Corporation is a Canadian investment management firm founded by Gerry Schwartz in 1984. In November 2022, it had CAD $47 billion dollars under management.

History

Schwartz founded Onex in 1984 and took the company public in 1987.

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.

At the end of 2017, Onex acquired SMG. The company was sold off in 2019 to merge with AEG Facilities to form ASM Global.

In 2019, Onex acquired Gluskin Sheff, a Toronto-based wealth management firm.

In December 2019, Onex purchased Canada's second-largest airline WestJet for CA$5.0 billion (equivalent to $6 billion in 2025).

In May 2020, Onex blamed a first-quarter net loss of $1.1 billion US dollars on the COVID-19 pandemic.

Founder Schwartz stepped down as CEO in May 2022 and was replaced by Bobby Le Blanc.

References

  1. 1 2 3 "Gerry Schwartz to step down as CEO at Onex, Bobby Le Blanc named next CEO". Delta Optimist. Toronto: Lodestar Media. Canadian Press. November 11, 2022. Retrieved February 22, 2026.
  2. ↑ "Canada's very own private-equity giant Onex quietly tops returns of big-name U.S. rivals". Financial Post. Bloomberg News. June 26, 2014. Retrieved April 4, 2020.
  3. ↑ Mustoe, Howard (July 27, 2010). "Onex, Canada Pension to Buy Tomkins for $4.5 Billion". Bloomberg.com. Retrieved July 25, 2022.
  4. ↑ Chapple, Jon (December 11, 2017). "SMG sold to PE firm Onex Corporation". IQ. Retrieved July 25, 2022.
  5. ↑ "Onex to buy wealth manager Gluskin Sheff in $445 million deal | Financial Post". Financial Post. March 25, 2019. Retrieved November 14, 2019.
  6. ↑ Vandaelle, Ian (March 22, 2019). "Onex snaps up wealth manager Gluskin Sheff in $445M deal". BNN Bloomberg. Retrieved November 3, 2020.
  7. ↑ "Gerald Schwartz controlled Onex closes $5B acquisition of WestJet". Private Capital Journal. December 12, 2019. Retrieved July 30, 2025.
  8. ↑ "Onex reports US$1.1B Q1 loss on COVID-19 disruption". BNN Bloomberg. Archived from the original on June 3, 2020. Retrieved February 5, 2021.
  9. ↑ "Schwartz officially steps down as Onex CEO as share plan approved". Times Colonist. Toronto: Lodestar Media. Canadian Press. May 11, 2023. Retrieved February 22, 2026.