Onex Corporation
TSX : OCX

Onex Corporation
ONCAP

ONCAP

November 22, 2010 08:09 ET

ONCAP Completes $155 Million Sale of CSI Global Education

TORONTO, ONTARIO--(Marketwire - Nov. 22, 2010) - Onex Corporation (together with affiliates, "Onex") (TSX:OCX) today announced that ONCAP has completed the sale of CSI Global Education Inc. ("CSI"), Canada's leader in financial education and testing services, to Moody's Corporation in a transaction valued at approximately $155 million. ONCAP, Onex' mid-market private equity platform, received $126 million, of which $50 million was Onex' portion of the proceeds. Acquired in 2006, CSI was the first acquisition completed by ONCAP II.

"We have worked closely with CSI's management team for almost five years to expand the company's business both domestically and abroad," said Jeremy Thompson, Managing Director of ONCAP. "The sale to Moody's will allow CSI to continue this growth and further develop its product innovation."

"This transaction is a direct result of our successful partnership with CSI's management team and we are delighted with the outcome for ONCAP, our investors and CSI," added Michael Lay, Managing Partner of ONCAP. 

"Each of the businesses owned by ONCAP performed well through the recent economic downturn and is well positioned for continued growth in shareholder value," continued Michael Lay. "In addition, ONCAP is currently pursuing a number of attractive opportunities that we hope will lead to additional investments in the coming year."

About ONCAP

ONCAP, in partnership with operating company management teams, invests in and builds shareholder value in North American small and mid-size companies that are leaders in their defined market niche and possess meaningful acquisition and organic growth potential. For more information on ONCAP, please visit www.oncap.com.

ONCAP is the mid-market private equity platform of Onex, one of North America's oldest and most successful investment firms committed to acquiring and building high-quality businesses in partnership with talented management teams. Onex manages investment platforms focused on private equity, real estate and credit securities. In total, Onex manages approximately US$13 billion. Over 26 years, Onex has built approximately 60 businesses, generating 3.4 times the capital it has invested and managed and earning a 29 percent compound annual return on invested capital. For more information on Onex, please visit www.onex.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.

Contact Information

  • ONCAP
    Jeremy Thompson
    Managing Director
    416.214.4300
    or
    Onex
    Emma Thompson
    Vice President, Investor Relations
    416.362.7711