Onex Corporation (“Onex”) (TSX: ONEX) today announced it has made an incremental investment of approximately $110 million in Ryan Specialty Group,LLC (“RSG”)to support its strategic acquisition of All Risks, Ltd. (“All Risks”). This preferred equity investment was made by Onex as a follow-on to its investment in RSG in 2018.Founded in2010, RSGis al eading international specialty insurance organization which provides wholesale brokerage and highly specialized managing general underwriting services to retail insurance brokers and insurance carriers.The company is approaching $12 billion in premium in2020.Formed in 1964,All Risks has grown from a one office excess and surplus lines brokerage acility to a national wholesale broker, managing general agency, and program administrator.Over the past25years, continued reinvestment in talent has resulted in an 18% average annua organic growth rate.The company has offices across the country and over 850 employees and isprojecting $2.6 billion in premium in 2020.“UnderPat Ryan’s leadership,RSG continuesto impress us with its abilityto profitably growboth organically and inorganically,” said Bobby Le Blanc, President of Onex. “The company continues to attract and retain top-tier talent and execute on its strategic vision. Onex is excited about the new partnership between RSG and All Risks and looks forward to continuing to support RSG’s future growth plans.”
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.The Onex Partners and ONCAP businesses have assets of $45 billion, generate annual revenues of $25 billion and employ approximately 165,000 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.
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For Further Information
Claire Glossop IraniDirector, Client & Product Solutions Tel: 416.362.7711