Toronto, March 5, 2019 – Onex Corporation (“Onex”) (TSX: ONEX) and its affiliates (the “Onex
Group”) today announced they have completed the sale of BrightSpring Health Services
(“BrightSpring”) to affiliates of KKR. BrightSpring is a leading provider of diversified home and
community-based health services to complex, high-cost populations.
In June 2004, Onex Partners I made an initial minority investment in BrightSpring (formerly
ResCare) and in November 2010, Onex Partners III invested additional capital to acquire a
majority stake in a take-private transaction. In total, the Onex Group invested $204 million, of
which Onex’ portion was $41 million. The Onex Group has received total proceeds of
approximately $1.0 billion, including prior distributions of $218 million. Onex’ portion of the sale
proceeds was approximately $190 million, including $39 million of carried interest. This results
in a blended gross multiple of invested capital of 5.7 times and a 17% gross rate of return on
Onex’ investment.
About Onex
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and
ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with
talented management teams. At Onex Credit, Onex manages and invests in leveraged loans,
collateralized loan obligations and other credit securities. Onex has $31 billion of assets under
management, including $6.4 billion of Onex proprietary capital, in private equity and credit
securities. With offices in Toronto, New York, New Jersey and London, Onex and the team are
collectively the largest investors across Onex’ platforms.
Onex’ businesses have assets of $51 billion, generate annual revenues of $32 billion and employ
approximately 217,000 people worldwide. Onex shares trade on the Toronto Stock Exchange
under the stock symbol ONEX.
For more information on Onex, visit its website at
www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.
This news release may contain forward-looking statements that are based on management’s current
expectations and are subject to known and unknown uncertainties and risks, which could cause
actual results to differ materially from those contemplated or implied by such forward-looking
statements. Onex is under no obligation to update any forward-looking statements contained
herein should material facts change due to new information, future events or otherwise.
For further information:
Emilie Blouin
Director, Investor Relations
Tel: +1 416.362.7711
