Tawfiq Popatia and Nigel Wright promoted to Senior Managing Directors of Onex Partners

Toronto, Ontario, CANADA

All amounts in U.S. dollars unless otherwise stated

TORONTO, Sept. 15, 2020 (GLOBE NEWSWIRE) -- Onex Corporation (“Onex”) (TSX: ONEX) today announced Tawfiq Popatia and Nigel Wright have been promoted to Senior Managing Directors of Onex Partners.  They will remain focused on investing Onex Partners V, overseeing their existing operating companies and serving as members of the Onex Partners Investment Committee.

Bobby Le Blanc, President of Onex and Head of Onex Partners, commented, “These promotions recognize Tawfiq and Nigel’s investing track records, leadership qualities and longstanding contributions to Onex.”

Tawfiq joined Onex in 2007.  He has led Onex Partners’ investments in WestJet, Advanced Integration Technology (AIT) and BBAM and its related investments in FLY Leasing (NYSE: FLY), Incline Aviation and Meridian.  Prior to joining Onex, Tawfiq worked at Hellman & Friedman LLC, a San Francisco-based private equity firm.  Previously, Tawfiq worked in the investment banking division of Morgan Stanley & Co. and Morgan Stanley Asia Pacific.  

Nigel joined Onex in 1997.  His investing track record includes investments in Independent Clinical Services (pending), KidsFoundation, SIG Combibloc, Spirit AeroSystems, ResCare and Compagnie Générale de Géophysique.  Nigel took a leave of absence from Onex from 2010 to 2014 to work as Chief of Staff for the Prime Minister of Canada.  Prior to joining Onex, Nigel was a partner at the law firm of Davies, Ward & Beck.  Before that, he worked in policy development in the Office of the Prime Minister of Canada.

About Onex
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.

Forward-Looking Statements
This press release may contain, without limitation, statements concerning possible or assumed future operations, performance or results preceded by, followed by or that include words such as “believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of similar connotation, which would constitute forward-looking statements.  Forward-looking statements are not guarantees.  The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements.  Except as may be required by Canadian securities law, Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors.  These cautionary statements expressly qualify all forward-looking statements in this press release.

For Further Information
Claire Glossop Irani
Director, Client & Product Solutions
Tel: 416.362.7711