Canadian private equity firm Onex Corp has completed its sale of Sitel Worldwide Corp, a U.S.-based provider of outsourced customer care and back-office processing services. As previously reported by peHUB Canada, the buyer was Groupe Acticall, a customer relationship management business based in France. Onex said it expects to see net proceeds of about US$55 million, including an earn-out component, from the sale. In 2007, ClientLogic, a portfolio investment of Onex, acquired and merged with Sitel. It remains a portfolio company of OMERS Private Equity.
Onex Completes Sale of Sitel Worldwide
Toronto, September 18, 2015 –
Onex Corporation (“Onex”) (TSX: OCX) today announced it has completed the sale of Sitel Worldwide Corporation. Onex’ net proceeds are expected to be approximately $55 million, including an earn-out component.
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 $22 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 $37 billion, generate annual revenues of $25 billion and employ approximately 207,000 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:
Emma Thompson, Managing Director – Investor Relations: Tel: 416.362.7711
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