checkAd

     125  0 Kommentare Onex to Make a Majority Investment in OneDigital

    One of the Largest Employee Benefits and Retirement Advisors

    All amounts in U.S. dollars unless otherwise stated 

    TORONTO, Oct. 08, 2020 (GLOBE NEWSWIRE) -- Onex Corporation (“Onex”) (TSX: ONEX) and its affiliated funds (the “Onex Group”) today announced it has agreed to make a majority investment in OneDigital, a leading U.S. provider of employee benefits insurance brokerage and retirement consulting services. New Mountain Capital (“New Mountain”), the former majority shareholder, and OneDigital employees will roll a significant portion of their existing investments into the transaction. Founded in 2000, OneDigital is headquartered in Atlanta, Georgia and has more than 2,000 employees in over 100 offices across the United States.

    “OneDigital has established a leading national insurance brokerage and a customer- and employee-centric culture which drives business performance,” said Todd Clegg, an Onex Managing Director. “The company has a very impressive management team led by Adam Bruckman and is well positioned to grow both organically and by continuing its track record of successful acquisitions. We are thrilled to partner with Adam, the rest of the OneDigital team and New Mountain.”

    “Our world-class employees and investment in holistic health, wealth and HR solutions have allowed us to continually grow our market position by providing our clients with a level of value that is unparalleled in the market,” commented Mr. Bruckman, President and Chief Executive Officer of OneDigital. “We look forward to our next phase of growth in partnership with Onex and New Mountain.”

    “New Mountain is committed to OneDigital’s long-term growth and expansion in the insurance brokerage and retirement sectors. In Onex, we found a strong partner with deep industry expertise and an aligned long-term investment philosophy,” said Robert Mulcare, Managing Director of New Mountain.

    The transaction values OneDigital at $2.65 billion. The new equity investment of approximately $960 million will be made by the Onex Group, including Onex Partners V. Upon closing, the Onex Group and employees of OneDigital will own approximately 83% of the company. The transaction is anticipated to close by the end of 2020 subject to customary conditions and regulatory approvals.

    Lesen Sie auch

    About Onex
    Founded in 1984, Onex invests and manages capital on behalf of its shareholders, institutional investors and high net worth clients from around the world. Onex’ platforms include: Onex Partners, private equity funds focused on larger opportunities in North America and Europe; ONCAP, private equity funds focused on middle market and smaller opportunities in North America; Onex Credit, which manages primarily non-investment grade debt through collateralized loan obligations, senior loan strategies and other private credit strategies; and Gluskin Sheff’s wealth management services including its actively managed public equity and public credit funds. In total, Onex has approximately $35.6 billion of assets under management, of which approximately $6.6 billion is its own shareholder capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.

    Seite 1 von 2


    globenewswire
    0 Follower
    Autor folgen

    Verfasst von globenewswire
    Onex to Make a Majority Investment in OneDigital One of the Largest Employee Benefits and Retirement AdvisorsAll amounts in U.S. dollars unless otherwise stated  TORONTO, Oct. 08, 2020 (GLOBE NEWSWIRE) - Onex Corporation (“Onex”) (TSX: ONEX) and its affiliated funds (the “Onex Group”) today …