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3i to receive £77m in proceeds from refinancing of Aspen Pumps and distribution from Audley Travel

3I

3i-backed Aspen Pumps (“Aspen”) and Audley Travel (“Audley”) to return in aggregate £77m in cash to 3i Group plc (“3i Group”).

Aspen, the global leader in condensate pumps for air conditioning and refrigeration systems, has successfully completed a refinancing following the completion of the acquisition of Advanced Engineering, Aspen’s 5th bolt-on under 3i ownership.

3i Group plc will receive £52m from the transaction, representing more than 0.8x its original equity investment. This has been enabled by the significant growth and cash generation in the business, with revenues more than doubling since 3i’s investment in 2015. The refinancing ensures Aspen is well positioned to continue investing to further accelerate growth and deliver on its ambitious plans, both organically and through acquisitions, where it has a strong pipeline.

Audley, a leading provider of tailor-made experiential travel, has completed a £30m shareholder distribution funded by cash on balance sheet. 3i Group plc proceeds from this distribution are £25m. 3i invested in Audley in 2015 to build on its market-leading UK presence and support international growth, particularly in the US, where Audley has seen a 4x increase in bookings over the last 3 years.

Alan Giddins, Managing Partner and Head of Private Equity, commented:

“Aspen and Audley are both outstanding UK businesses, with leading market positions. Both companies have demonstrated strong organic earnings growth and cash conversion since our investments, which has enabled them to return cash to shareholders.

 

-Ends-

Download this press release   

 

For further information, contact: 

3i Group plc

Silvia Santoro

Shareholder enquiries

 Tel: +44 20 7975 3258

Email: silvia.santoro@3i.com
Kathryn van der Kroft

Media enquiries

 Tel: +44 20 7975 3021

Email: kathryn.vanderkroft@3i.com

 

 

Notes to editors:

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com

About Aspen Pumps

Aspen Pumps is the global leader in the design, manufacture and assembly of condensate pumps focused on the air conditioning and refrigeration (“ACR”) sectors and is renowned for having the most reliable, installer friendly and innovative products. It also provides a range of market leading tools, rooftop mounting systems and accessories for ACR installers. For further information, please visit: https://www.aspenpumps.com

About Audley Travel

Audley is a leading provider of tailor-made experiential travel to over 80 destinations worldwide. Serving clients predominantly in the UK and US, Audley is renowned for its superior customer service and in-depth destination expertise delivered by its country specialists. For more information, please visit www.audleytravel.com

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Motive Partners announces acquisition of Finantix

Motive Partners

Finantix is a leading provider of technology enabling the digitalization of omni-channel advisory, sales and services processes for private banks, wealth managers and insurance companies. New York, London, 11 December 2018 –

Motive Partners today announced that it has signed an agreement to acquire a controlling interest in Finantix. Motive Partners will support Finantix and its founders in continuing to build out their market-leading suite of products and to expand their geographic footprint in to core growth markets.

Finantix is a financial technology provider with a focus on private banks, wealth managers and insurance companies. Finantix offers a suite of software components, accelerators, APIs and engines that collectively support the digitalization of sales, onboarding, advisory, products origination, services and transactions along the client life-cycle, across channels and devices for mass affluent to ultra-high net worth clients. The announced transaction follows strong financial results at Finantix, with the company having experienced significant growth in recent years.

Scott Kauffman, Partner at Motive Partners, commented: “Finantix founders Ralf Emmerich and Alessandro Tonchia, supported by a strong management team, have demonstrated their ability to create a compelling product and bring a leading technology platform to an ever-increasing set of blue chip clients. We are excited to back the Finantix team and together focus on opportunities to make Finantix a globally recognized leader in its space.”

Finantix has grown in recent years to over 250 specialists in 7 cities, with further expansion planned as Finantix and Motive Partners capitalize on the international opportunity, with substantial opportunities to continue to grow in Europe, Asia and to enter the US market. Motive Labs, the operational and technology value creation team of Motive Partners, will also work in conjunction with Finantix and its team to accelerate growth by supporting continued technology development and international expansion across Motive Labs’ international ecosystem. Other significant opportunities for value creation include further product development in response to strong customer demand and accelerated expansion through potential strategic acquisitions. Finantix founders and the current management team will continue to lead the company to achieve the shared vision and to ensure high service quality to all existing and future clients.

Ralf Emmerich, Co-founder of Finantix, commented: “Our rapid growth is based upon the strength of our front office and multi-channel components, which are recognized as best in class for their solid architecture, rich functionality, sophistication, flexibility and ability to enable effective sales, advisory, onboarding, product origination and management processes for private banks, wealth managers and insurance companies. Motive Partners’ experience growing financial technology businesses on a global scale, combined with their extensive network, makes them an ideal partner for the next stage of our growth.”

Andy Stewart, Industry Partner at Motive Partners, added: “We see substantial opportunity within this space, with Finantix well positioned to continue their strong growth. Motive Partners will bring to bear our sector-specialist expertise and capabilities to build on the company’s strong foundations to achieve our shared vision.”

 

Proskauer and EY served as advisors to Motive Partners in connection with the transaction. Osborne Clarke served as legal advisor to Finantix in connection with the transaction.

 

About Finantix

Finantix has a global customer base spanning over 45 countries, acquired over more than 15 years’ experience distilled into its flagship Finantix Components product and supported from eight offices across Europe, North America and Asia. Finantix Components are trusted by some of the world’s largest banks, insurers and wealth managers and offer a broad, solid and proven library of multi-country, multi-jurisdiction, multi-channel, omni-device reusable software modules, widgets, engines, connectors and APIs that help leading financial institutions digitize and transform key processes in the financial services industry.

 

About Motive Partners

Motive Partners is a sector specialist investment firm that is focused on technology enabled companies that power the financial services industry. Based in New York and London and comprised of investors, operators and innovators, Motive Partners brings differentiated expertise, connectivity and capabilities to create long-term value in financial technology companies. More information on Motive Partners can be found at www.motivepartners.com.

For more information please contact: Sam Tidswell-Norrish | M: +44 7855 910178 | pr@motivepartners.com

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AURELIUS completes acquisition of Norwegian wholesale business from HELLA

Aurelius Capital

Munich/Oslo, December 11, 2018 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) has completed the acquisition of the Norwegian wholesaler Hellanor from Nordic Forum Holding A/S, a 100% subsidiary of HELLA GmbH & Co. KGaA. Headquartered in Skytta near Oslo, Hellanor is the second-largest automotive aftermarket wholesaler in Norway, generating c. EUR 70 million in revenues with approx. 250 employees.

Hellanor supplies its customers, typically automotive workshops, car dealerships and local wholesalers, with spare parts from its central warehouse in Skytta as well as from 19 branches across the country. In addition, Hellanor offers workshop franchise concepts to its clients under its own AutoMester brand as well as for third-party concepts such as Bosch Car Service. Within its AutoMateriell business segment Hellanor supplies workshop equipment of leading equipment OEMs such as JohnBean and MAHA.

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Altamir sells its remaining stake in Albioma

Altamir

Paris, 11 December 2018 – Altamir has sold its remaining stake in Albioma to Impala, a diversified group with more than 6,000 employees operating in energy, manufacturing, brands and asset management.

Altamir’s investment in Albioma (ca. 5.5% of the share capital), which was held via Altamir’s subsidiary Financière Hélios, was sold for €31.7m.

Following this transaction, Altamir no longer holds any Albioma shares.

“I am very pleased that Jacques Veyrat has become a significant shareholder of Albioma, via the Impala group. His in-depth knowledge of the renewable energy sector at the international level should pave the way for accelerated growth at Albioma,” said Maurice Tchenio, Chairman of Altamir Gérance.

 

About Altamir

Altamir is a listed private equity company (Euronext Paris-B, ticker: LTA) founded in 1995 and with an investment portfolio of around €900m. Its objective is to provide shareholders with long term capital appreciation and regular dividends by investing in a diversified portfolio of private equity investments.

Altamir’s investment policy is to invest via and with the funds managed or advised by Apax Partners France and Apax Partners LLP, two leading private equity firms that take majority or lead positions in buyouts and growth capital transactions and seek ambitious value creation objectives.

In this way, Altamir provides access to a diversified portfolio of fast-growing companies across Apax’s sectors of specialisation (TMT, Consumer, Healthcare, Services) and in complementary market segments (mid-sized companies in Continental European countries and larger companies across Europe, North America and key emerging markets).

Altamir derives certain tax benefits from its status as an SCR (“Société de Capital Risque”). As such, Altamir is exempt from corporate tax and the company’s investors may benefit from tax exemptions, subject to specific holding-period and dividend-reinvestment conditions.

For more information: www.altamir.fr

Contact

Claire Peyssard-Moses

Tel.: +33 (0)1 53 65 01 74

E-mail: investors@altamir.fr

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Jean-Marc Huët joins Bridgepoint Advisory Board

Bridgepoint

Bridgepoint, the international private equity group, has appointed Jean-Marc Huët to its Advisory Board with effect from 1st January 2019.

Mr Huët is a former CFO of Unilever plc/NV, Bristol-Myers Squibb and Royal Numico NV and began his career at Goldman Sachs International. He currently holds non-executive directorships at Heineken, Canada Goose and J2.

A Dutch national, Mr Huët was educated at Dartmouth College, New Hampshire and has an MBA from INSEAD.

Welcoming the appointment, Bridgepoint managing partner William Jackson, said: “Jean-Marc is a seasoned international executive with a strong track record across several industries. He will bring a global view and important insight to Bridgepoint. We look forward to working with him.”

Jean-Marc Huët said: “I am enthusiastic about the opportunity at Bridgepoint and contributing to the team’s assessment of sectors and specific companies as it continues to consolidate its middle market position in the alternative assets space.”

The Advisory Board provides external perspectives and advice to Bridgepoint’ senior leadership team and is also involved on an individual member basis on value creation at portfolio companies.

Press enquiries

For all press enquiries, contact James Murray on +44 (0) 20 7034

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EQT acquires Cast & Crew – a leading provider of software and services to the entertainment industry

eqt

  • EQT VIII acquires Cast & Crew, a leading provider of software and services to the entertainment industry, covering payroll & human resources, accounting & financial management and workflow & productivity
  • Cast & Crew’s solutions simplify and automate complex processes for companies and productions in the film, television, digital streaming, commercial and live events markets
  • EQT will support Cast & Crew’s impressive growth trajectory by leveraging its operational and financial resources, including deep sector expertise within TMT and Services and its global network of Industrial Advisors

The EQT VIII fund (“EQT” or “EQT VIII”) today announced that it has agreed to acquire Cast & Crew Entertainment Services (the “Company”), a leading technology provider of software and services to the entertainment production industry, from global technology investing leader Silver Lake.

Founded in 1976 and based in Burbank, California, Cast & Crew provides solutions that simplify and automate complex processes for companies and productions in the entertainment industry. Its software products and services assist in the areas of payroll & human resources, accounting & financial and workflow & productivity. The Company has a 40-year track record of supporting its customers’ creative pursuits. Cast & Crew’s software products and services have supported the production of some of the highest-grossing films and music tours of all time, Emmy award-winning television and digital streaming programs, commercials for many of the most well-known brands, Tony award-winning Broadway shows, major sports and live event venues and many of the most highly attended music festivals.

EQT will support Cast & Crew in its next phase of development as the Company focuses on accelerating product and service expansion in current and new verticals, while continuing to provide best-in-class service to its customers. Moreover, EQT will leverage its local European presence and extensive Industrial Advisor Network to accelerate the Company’s international expansion, initially focused in Europe.

Kasper Knokgaard, Partner at EQT Partners, Investment Advisor to EQT VIII comments: “We have been very impressed with the Company’s performance and vision for continued transformation in the entertainment industry. We are delighted to have the opportunity to help shape the next phase of growth for Cast & Crew, together with an exceptionally talented group of people being led by CEO Eric Belcher and President John Berkley — supported by an outstanding executive management team. Cast & Crew will be able to leverage the entire EQT platform, including our deep sector expertise and network of Industrial Advisors, to capitalize on the growth opportunities in current and untapped market segments.”

Eric Belcher, CEO of Cast & Crew, continues: “We are all proud of what Cast & Crew has achieved in recent years under Silver Lake’s stewardship as our majority shareholder. We have built a very strong foundation for the future across software products, value-added services and a very strong employee base focused on customer service and success. We are delighted to partner with EQT and leverage its international presence and deep sector expertise within media, technology and services as we move through the next phase of our continued growth.”

Joe Osnoss and Lee Wittlinger, Managing Directors at Silver Lake, add: ”We thank Cast & Crew’s outstanding management team and employees for their partnership during a period characterized by impressive growth, accelerating technology innovation and expansion into new entertainment end markets. We hope and expect that the company will achieve continued success under EQT’s ownership.”

Morten Hummelmose, Chairman of EQT Partners Inc. and Head of EQT Equity U.S., concludes: “This is an important transaction for EQT’s large buyout business, as it represents our first transaction in the U.S. in the TMT and Services sectors. EQT has a long and successful track record of developing technology companies, and we are confident this will be a great partnership that will benefit Cast & Crew and all of its stakeholders.”

The transaction is subject to customary closing conditions.

Goldman Sachs & Co. LLC., Simpson Thacher & Bartlett LLP and Aon served as advisors to EQT VIII. Moelis & Company LLC and Morgan Stanley & Co. LLC served as lead financial advisors to Cast & Crew. Cast & Crew was also advised by J.P. Morgan. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor.

Contacts
Kasper Knokgaard, Partner at EQT Partners, Investment Advisor to EQT VIII, +1 917 603 4798
US inquiries:

Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com

Michael Geczi, +1 818 525 3301, michael.geczi@castandcrew.com

Patricia Graue, +1 212 333 3810, silverlake@brunswickgroup.com

International inquiries: EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 28 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About Cast & Crew
Cast & Crew provides payroll and human resources, accounting and financial, and workflow and productivity software and services to the entertainment industry. Cast & Crew’s services include payroll processing, residuals processing, workers’ compensation services, labor relations, and production incentives management and financing. Cast & Crew’s PSL production accounting software serves the needs of the film, television and digital media industries. The company was founded in 1976, and its corporate headquarters are in Burbank, California.

More info: www.castandcrew.com

About Silver Lake
Silver Lake is the global leader in technology investing, with about $45.5 billion in combined assets under management and committed capital and a team of approximately 100 investment and value creation professionals located in Silicon Valley, New York, London, and Hong Kong. Silver Lake’s portfolio of investments collectively generates more than $225 billion of revenue annually and employs more than 390,000 people globally.

More info: www.silverlake.com

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Monaghan Mushrooms acquires 100% of Walkro, a leading producer of substrate for the mushroom industry

GIMV

Topic: Divestment

Irish company Monaghan Mushrooms has agreed to acquire all shares of Walkro held by Gimv and Walkro’s management.

Walkro (www.walkro.eu) was founded in Belgium in 1991 and has grown into one of the largest producers of substrate for the mushroom industry. Walkro produces 8,500 tons of substrate per week at its production facilities in Maasmechelen (Belgium), Blitterswijck (the Netherlands) and Wallhausen (Germany). With more than 235 employees, Walkro sources its own raw materials (mainly horse and poultry manure), produces best in class substrate and takes care of transport to mushroom growers all over the world.

At the end of 2011, Walkro was acquired by operating partner Monaghan Mushrooms, together with financial investor Gimv and Walkro’s management team. Since then, Walkro’s turnover has grown to just over EUR 75 million (2017), making Walkro one of the largest producers of mushroom substrate in the world. Today, co-shareholder Monaghan buys out both Gimv and management, becoming the group’s sole shareholder.

In the new structure, Walkro will remain focused on producing high-quality mushroom substrate for independent growers around the world. The Walkro management underlines its confidence in the new structure by acquiring shares on Monaghan level. The current statutory management of Walkro, consisting of Eric Houben (CEO) and Peter Fijneman (CFO), will be responsible for all European substrate activities within the Monaghan group in similar positions, which has a total size of 15,000 tons of mushroom substrate per week. Eric Houben will also become a board member of Monaghan Mushrooms.

Monaghan Mushrooms (www.monaghan-mushrooms.com) is one of the world’s largest substrate and mushroom companies. The company is a ‘spore to store’ vertically integrated agribusiness meaning that it produces substrate for the cultivation of mushrooms and grows, harvests and packs quality and fresh mushrooms before delivering its mushrooms directly to its customers, some of the largest international retailers. The company is owned by the Wilson family (Ireland). Monaghan employs more than 3,500 employees and is headquartered in County Monaghan, Ireland. The group further has operations in Canada, the United Kingdom, Belgium, Netherlands and Germany.

Over the entire holding period, the investment in Walkro generated a return above Gimv’s long-term average return. No further financial details will be disclosed.

Read the full press release:

English – French – Dutch – German
Gimv
Karel Oomsstraat 37, 2018 Antwerpen, Belgium
www.gimv.com

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EQT Mid-Market Credit II holds final close at EUR 2.3 billion – increasing EQT Credit’s presence in European direct lending

eqt

  • The EQT Mid-Market Credit II fund successfully closes at EUR 2.3 billion of available capital, including anticipated leverage – more than four times the size of its predecessor direct lending fund, EQT Mid-Market Credit
  •  Continuation of the diligence-led investment strategy succcessfully deployed by the EQT Credit platform since its inception in 2008
  •  Strong support from existing investors and new investors to both EQT and EQT Credit, resulting in a diversified blue-chip investor base of pension funds, insurance companies, family offices and foundations across Europe, North America and Asia

EQT today announces the final closing of its second European direct lending fund, EQT Mid-Market Credit II (the “Fund”). The Fund received commitments equivalent to EUR 2.3 billion of available capital, including anticipated leverage. Since launch in 2008, the EQT Credit platform has raised over EUR 6 billion and invested over EUR 5.1 billion in over 170 companies.

The Fund will continue EQT Credit’s strategy of providing financing solutions to European mid-market companies, with a focus on high-quality performing businesses with defensive characteristics. Over 30% of the Fund has already been committed in 12 investments, including recent financings for Medifox, Dukes Education and VPS.

Investors in EQT Mid-Market Credit II include a diverse group of European, Asian and North American pension funds, insurance companies, endowments, foundations and family offices.

Paul Johnson, Partner at EQT Partners, Investment Advisor to the Fund, comments: “We are confident that the significant opportunities in the market play to EQT Credit’s strengths as a due diligence-focused investor with the ability to leverage the knowledge that resides in EQT having invested in the same geographies and industries over the last 24 years. Thanks to the strong support demonstrated by existing and new investors, the Fund is well positioned to capitalize on these opportunities over the coming years as the direct lending market continues to grow across Europe.”

Andrew Konopelski, Partner and Head of EQT Credit at EQT Partners, continues: “Our focus on local sourcing and diligence, supported by EQT’s network of Industrial Advisors, as well as the capacity to invest in a broad range of situations, has been key to EQT Credit’s investment approach over the last ten years. The EQT Credit platform has developed significantly and we are looking into ways of transforming and broadening the offer even further.”

“The growth of the EQT Credit platform has been extremely successful and complements EQT’s offering across the entire spectrum of alternative investments. The Fund far exceeded its initial target, which further confirms investors’ appetite for this asset class as well as their support and trust for EQT and EQT Credit. With a strong ten-year track record in the market and an experienced investment advisory team led by Andrew Konopelski, EQT has firmly cemented its position as an integrated capital provider across the full range of risk profiles”, says Thomas von Koch, CEO and Managing Partner at EQT.

The fundraising for EQT Mid-Market Credit II has now closed. As such, the foregoing should in no way be treated as any form of offer or solicitation to subscribe for or make any commitments for or in respect of any securities or other interest or to engage in any other transaction.

This press release is translated into multiple languages for information purposes only. In case of a discrepancy, the English version shall prevail.

Contacts
Andrew Konopelski, Partner and Head of EQT Credit at EQT Partners, +44 20 7430 5525
Paul Johnson, Partner at EQT Partners, +44 20 7430 5520
Jussi Saarinen, Partner and Head of Investor Relations at EQT Partners, +46 8 506 55 368
Carlota Sanchez-Marco, Managing Director, Investor Relations at EQT Partners, +34 674 345 701
EQT Press Office +46 8 506 55 334, press@eqtpartners.com

About EQT Credit
The EQT Credit platform, which spans the full risk-reward spectrum investing with three strategies: senior debt, direct lending and credit opportunities, has invested over EUR 5.1 billion across over 170 companies since inception in 2008.
For more information: www.eqtpartners.com/Investment-Strategies/Credit

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 28 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
For more information: www.eqtpartners.com

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Stamina Group AS sold to a fund managed by Norvestor Equity AS

Hercules Capital

Herkules Private Equity Fund III has entered into an agreement to sell Stamina Group AS to a fund managed by Norvestor Equity AS. Stamina Group is the leading provider of Occupational Health Services (“OHS”) in the Nordics with a nation-wide presence in Norway and Sweden.
After a disappointing start of the ownership, several changes were made in the beginning of 2016, including implementation of a completely new strategy. Since then, the company has completed a full turnaround. Non-core business areas, all loss-making when the turnaround was decided, were divested after successful implementation of several profitability improvement initiatives. In parallel, several operational and strategic efforts were implemented in the core OHS business, resulting in a positive development with strong organic revenue growth and more than tripled EBITDA.
Gaute Gillebo commented: “We are very pleased with the company’s development following the comprehensive strategy change in 2016. We are impressed by how management and the employees have responded following the changes and by the strong results they have generated. Stamina is now stronger than ever and ready to realize its full potential.”The Herkules transaction team was led by Gaute Gillebo and supported by Fredrik Toft Bysveen.

Herkules Private Equity Fund III was advised by DNB Markets, Schjødt, and PwC.

Contact information:
Gaute Gillebo, Co-Managing Partner at Herkules Capital, +47 45 83 00 00

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Onex to Sell BrightSpring Health Services

Onex

Toronto, December 10, 2018 – Onex Corporation (“Onex”) (TSX: ONEX) and its affiliates
(the “Onex Group”) today announced they have agreed to sell BrightSpring Health Services
(“BrightSpring”), the leading provider of comprehensive home and community-based health
services to complex populations in need of specialized care. The transaction is expected to close
in the first quarter of 2019 subject to customary closing conditions, including regulatory approval.
The terms of the transaction are not being disclosed.

“Over the course of our ownership, BrightSpring has significantly increased the breadth and depth
of its services through a combination of organic growth, add-on acquisitions and improvements in
its service-delivery model – striving to be a leading partner to states and payors in its markets. In
the process, the company has built a full suite of clinical and non-clinical services, the delivery of
which make a difference in people’s lives and in the communities BrightSpring serves,” said Josh
Hausman, a Managing Director of Onex. “We’d like to thank Jon Rousseau, BrightSpring
management and all of the company’s service professionals for being great partners to Onex and
its investors. We’re extremely proud of the company’s mission to help people live their best life,
and we wish the team continued success in the future.”

“Onex has been a terrific partner. We’re grateful for its commitment and support, which has
allowed us to expand our reach and impact more lives, invest in technology and standards, and
provide quality and compassionate care where and when our clients and patients need it most,”
said Jon Rousseau, President and Chief Executive Officer of BrightSpring. “Onex’ commitment
to our employees, the people we serve, and quality and service has been unwavering, and it has set
the tone throughout our organization.”

In June 2004, Onex made an initial minority investment in BrightSpring (formerly ResCare)
through Onex Partners I and, in November 2010, invested additional capital through Onex
Partners III to acquire a majority stake in a take-private transaction. Onex’ portion of the sale
proceeds as a Limited Partner in the Funds is expected to be approximately $190 million, including
carried interest of $39 million. This results in a blended gross multiple of invested capital of
5.7 times. BrightSpring is the last investment in Onex Partners I. In total, this fund made ten
platform investments and generated a gross multiple of invested capital of 4.0 times (net multiple
of invested capital of 3.1 times) and an approximate 55% gross rate of return (net rate of return
of 38%).

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 more than $33 billion of assets
under management, including $6.9 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 $52 billion, generate annual revenues of $32 billion and employ
approximately 218,000 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: 416.362.7711

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