TORONTO - Onex Corporation (TSX: ONEX) announced its financial results for the third quarter and nine months ended September 30, 2022. The company also provided an update on the intended next step in its leadership transition.
'Despite the challenging backdrop, Onex continues to focus on its foundational values of investing in high-quality assets with a long-term perspective and maintaining ample liquidity to take advantage of market cycles,' said Gerry Schwartz, Chairman and Chief Executive Officer of Onex. 'Together with a strong culture, deep client relationships and an exceptionally strong balance sheet, we are again positioned to turn market uncertainty into long-term opportunity.'
'As we look to the future, I am delighted to announce our proposal to appoint Bobby Le Blanc as Chief Executive Officer following our next annual meeting of shareholders. Bobby has shown exemplary leadership over his 23 years with Onex and is ideally suited to guide Onex into its next phase of growth while providing for a smooth transition for the organization. The Board and I have complete faith in Bobby and his ability to continue to build value for all our stakeholders.' Gerry Schwartz will remain closely involved with Onex as its Founder and Chairman. He will also remain the sole holder of Onex' Multiple Voting Shares (MVS). The proposal is conditional upon an amendment to the MVS to maintain their current voting entitlement following the transition of roles. A five-year sunset provision will be added to the MVS. The Board has approved the proposal upon the report and positive recommendation of a Special Committee. Shareholder approval of the amendment will be sought at the company's annual general meeting in 2023
Webcast
Onex management will host a webcast to review Onex' third quarter 2022 results on Friday, November 11, 2022 at 11:30 a.m. ET. The webcast will be available in listen-only mode from the Presentations and Events section of Onex' website, https://www.onex.com/events-andpresentations. A 90-day on-line replay will be available shortly following the completion of the event.
About Onex
Onex is an investor and asset manager that invests capital on behalf of Onex shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Onex' two primary businesses are Private Equity and Credit. In Private Equity, we raise funds from third-party investors, or limited partners, and invest them, along with Onex' own investing capital, through the funds of our private equity platforms, Onex Partners and ONCAP. Similarly, in Credit, we raise and invest capital across several private credit, public credit and public equity strategies. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, insurance companies and family offices. In addition, through our private wealth platform, we service high net worth clients in Canada. In total, Onex has $47.2 billion in assets under management, of which $7.6 billion is Onex' own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex' platforms. Onex is listed on the Toronto Stock Exchange under the 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.
Forward-Looking Statements
This press release may contain, without limitation, statements concerning possible or assumed future operations, performance or results preceded by, followed by or that include words such as 'believes', 'expects', 'potential', 'anticipates', 'estimates', 'intends', 'plans' and words of similar connotation, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements. Except as may be required by Canadian securities law, Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors. These cautionary statements expressly qualify all forward-looking statements in this press release.
Contact:
Jill Homenuk
Managing Director
Shareholder and Communications
Tel: +1 416.362.7711
Zev Korman
Vice President
Shareholder and Communications
Tel: +1 416.362.7711
ONEX CORPORATION 
