Onex to Open London Office

TORONTO, ONTARIO--(Marketwire - June 18, 2012) - Onex Corporation ("Onex") (TSX:OCX) today announced that it is opening an office in London to support continued growth of its investing activities. Onex also announced that Tony Morgan will be joining as a Managing Director in the London office.

Gerald W. Schwartz, Onex' Chairman and Chief Executive Officer, said, "After 28 years acquiring and building businesses with global reach, opening a London office is a natural progression for Onex. We see great opportunities in the European market for investors like Onex and are pleased to have Tony, a British national and experienced investor, join us to help establish this local presence."

Prior to joining Onex, Mr. Morgan was with the Canada Pension Plan Investment Board as a Vice President in the Principal Investing Group and a Member of the Private Investments Investment Committee. In this role, Mr. Morgan led various investments including Livingston International, Aricent Technologies, Bank of America Merchant Services and, working in partnership with the Onex team, Tomkins. Previously, Mr. Morgan spent seven years at private equity firms Alchemy Partners and Permira in London.

"The Canada Pension Plan Investment Board afforded me unequaled access to the private equity market. I will always be proud to have been part of its growth and success," commented Mr. Morgan. "Joining Onex is a unique opportunity for me. My first-hand experience partnering with the firm to acquire and build Tomkins confirmed our like-minded approach to investing. I look forward to working with my colleagues to expand our set of investment opportunities."

About Onex

Onex is 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, the Company manages approximately $15 billion, of which $10 billion is third-party capital. As well, Onex invests its own capital directly and as a substantial limited partner in its Funds.

Onex' businesses have assets of $42 billion, generate annual revenues of $36 billion and employ approximately 246,000 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.