Onex completes investment in Weld North Education

Canadian private equity firm Onex Group has closed its investment in Weld North Education, a New York-based K-12 digital curriculum company.

Canadian private equity firm Onex Group has closed its investment in Weld North Education, a New York-based K-12 digital curriculum company. Of the firm’s total investment, Onex Corp’s share was about $275 million. Onex is investing alongside Silver Lake, which has backed Weld North since 2018.

PRESS RELEASE

TORONTO, March 01, 2021 (GLOBE NEWSWIRE) — Onex Corporation (“Onex”) (TSX: ONEX) today announced that Onex Partners V, Onex’ $7.2 billion fund, and certain co-investors, including Onex (the “Onex Group”), have completed a significant investment in Weld North Education (“WNE”), in partnership with the management team and the company’s existing investor, Silver Lake. WNE is the leading K-12 digital curriculum company in the United States.

Of the Onex Group’s total investment, Onex Corporation’s share was approximately $275 million through Onex Partners V and a co-investment.

About Onex
Founded in 1984, Onex manages and invests 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 mid- to large-cap opportunities in North America and Western 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 tradeable, private and opportunistic credit strategies; and Gluskin Sheff’s wealth management services including its actively managed public equity and public credit funds. In total, as of December 31, 2020, Onex has approximately $44 billion of assets under management, of which approximately $6.8 billion is its own investing capital. With offices in Toronto, New York, New Jersey, Boston 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 $40 billion, generate annual revenues of $22 billion and employ approximately 147,000 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.