Onex Completes Sale of The Warranty Group

TORONTO, ONTARIO--(Marketwired - Aug. 1, 2014) - All amounts in U.S. dollars unless otherwise stated

Onex Corporation ("Onex") (TSX:OCX) and its affiliates (the "Onex Group") today announced they have completed the sale of The Warranty Group ("TWG") to an affiliate of TPG Capital for an enterprise value of approximately $1.5 billion.

The Onex Group acquired TWG in November 2006 with an equity investment of $498 million and has received proceeds of approximately $1.53 billion, including prior distributions of $403 million. This results in a multiple of invested capital of approximately 3.1 times and a 19% rate of return. Onex' portion of the proceeds are approximately $381 million, including carried interest of $50 million.

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.