Canadian private equity firm Onex Corp has completed its previously announced majority investment in Jack’s Family Restaurants, a quick-service restaurant operator based in Homewood, Alabama. The financial details of the transaction were not published. The company has some 129 stores in Alabama, Georgia, Mississippi and Tennessee, and is gearing up for further expansion. Last week, Onex agreed to invest in Schumacher Group, a U.S. emergency and hospital medicine services provider.
Onex Completes Investment in Jack’s Family Restaurants
Toronto, July 2, 2015 – Onex Corporation (“Onex”) (TSX: OCX) today announced it has completed its majority investment in Jack’s Family Restaurants (“Jack’s”), in partnership with certain members of its management. Jack’s is a leading regional quick-service restaurant operator. The investment will be made by Onex Partners IV, Onex’ $5.7 billion flagship fund. The terms of the transaction were not disclosed.
Onex is one of the oldest and most successful private equity firms with offices in Toronto, New York and London. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. The Company has approximately $21 billion of assets under management, including $5.9 billion of Onex capital, in private equity and credit securities. Onex invests its capital through its two investing platforms and is the largest limited partner in each of its private equity funds.
Onex’ businesses have assets of $34 billion, generate annual revenues of $24 billion and employ approximately 196,000 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.
For further information:
Managing Director – Investor Relations
Photo courtesy of Jack’s Family Restaurants