Onex Sells Remaining Stake in Spirit AeroSystems

TORONTO, ONTARIO--(Marketwired - Aug. 7, 2014) - All amounts in U.S. dollars unless otherwise stated

Onex Corporation ("Onex") (TSX:OCX) and its affiliates (the "Onex Group") today announced the sale of their remaining 8.4 million shares of common stock in Spirit AeroSystems (NYSE:SPR).

The Onex Group acquired Spirit AeroSystems from The Boeing Company for approximately $950 million in June 2005, investing approximately $375 million of equity. Over the course of the nine-year investment, the Onex Group has received aggregate proceeds of approximately $3.2 billion, resulting in a multiple of capital invested of approximately 8.5 times and a return on investment of 201% per annum. Onex' share of the cumulative proceeds is approximately $975 million, including carried interest of $118 million, compared to its original investment of $108 million.

"Onex' relationship with Spirit dates back nearly a decade, beginning with its carve-out from Boeing in 2005, its establishment as one of the world's largest non-OEM designers and manufacturers of aerostructures, and its continued growth as an independent and publicly listed company," said Seth Mersky, a Senior Managing Director of Onex. "Spirit's leadership, employees, and Board of Directors have been wonderful partners and friends. Without their efforts and support, Spirit would not have become the thriving business it is today."

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 March 31, 2014, the Company had approximately $21 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 March 31, 2014, Onex' businesses had assets of $45 billion, generated annual revenues of $35 billion and employed approximately 231,000 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.

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.