Onex Names Christopher Govan Chief Financial Officer

TORONTO, ONTARIO--(Marketwired - Sept. 30, 2014) - Onex Corporation ("Onex") (TSX:OCX) today announced that Christopher Govan will succeed Donald Lewtas as Chief Financial Officer effective March 1, 2015.

Mr. Lewtas, 62, joined Onex in 1987 and has been Chief Financial Officer since 2008. Mr. Lewtas will continue to oversee Onex' group purchasing and shared services initiative and be available to ensure a smooth transition to Mr. Govan.

"Over the past 27 years with Onex, Don has been dedicated to the firm's financial affairs and reporting standards and has been integral in creating and building our strong finance team," said Gerry Schwartz, Chairman and Chief Executive Officer of Onex. "I want to thank Don for his many contributions to Onex' success."

Mr. Govan, 44, joined Onex in 1998 and currently serves as a Managing Director, responsible for corporate and fund administration, and taxation. In his new role, Mr. Govan will also oversee Onex' finance, treasury, reporting and technology functions. Mr. Govan is a CPA with MAcc and BA degrees from the University of Waterloo.

"Chris has been a key member of our team for many years. This appointment is a natural progression for him and I have full confidence he will be successful in his expanded role," said Mr. Schwartz.

About Onex

With offices in Toronto, New York and London, Onex is one of the oldest and most successful private equity firms. Onex acquires and builds high-quality businesses in partnership with talented management teams. At August 31, 2014, the Company had approximately $22 billion of assets under management, including $6 billion of Onex capital, in private equity and credit securities. Onex invests its capital directly and as the largest limited partner in each of its Funds.

At August 31, 2014, Onex' businesses had assets of $31 billion, generated annual revenues of $24 billion and employed approximately 200,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at www.onex.com. The Company's security filings can also be accessed at www.sedar.com.

All amounts in U.S. dollars unless otherwise stated.