All amounts in U.S. dollars unless otherwise stated
TORONTO, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Onex Corporation (“Onex”) (TSX: ONEX) today announced the appointment of Wes Pringle as Managing Director and Head of Portfolio Operations for Onex Partners, Onex’ private equity strategy focused on mid- to large-cap companies in North America and Europe.
In this new position, Mr. Pringle will oversee implementation, monitoring and measurement and assist with the delivery of key value creation processes and initiatives across the portfolio and will also play an integral role in the identification and due diligence of new investment and operational improvement opportunities in Onex Partners’ portfolio. He will be a member of the Onex Partners Investment Committee, ensuring complete integration with the broader team.
“Wes has repeatedly proven his ability to create value within businesses and has the skills and experience to significantly develop and advance our growing operations team,” said Bobby Le Blanc, President of Onex and Head of Onex Partners. “Strong operations acumen and effective execution are differentiating factors in private equity investing and Wes will play an important role in the continued success of Onex Partners.”
Mr. Pringle is joining Onex from Fortive, where he is the Senior Vice President responsible for Fortive’s Intelligent Operating Solutions segment, which offers a suite of technology and software that monitor and ensure safe and uninterrupted operations for critical industrial infrastructure and assets. Previously, he was President of Fluke, a subsidiary operating company of Fortive. During his time with Fortive, Mr. Pringle has had significant merger and acquisition experience. Earlier in his career, he advanced through a series of sales, marketing and general management roles at Whirlpool Corporation, Pfizer Consumer Healthcare and Johnson & Johnson, creating value in well-known brands such as Maytag, KitchenAid, Neosporin, Band-Aid and Listerine.
“Diversity of perspective and emphasis on critical and strategic analysis as well as seamless execution will be the key drivers as we continue to build out the Onex Partners operations team,” said Mr. Pringle. “This is an incredible opportunity for me to join an entrepreneurial team with a strong track record that shares my commitment to consistently differentiated operational performance.”
Mr. Pringle will start at Onex Partners in April and will be based in Toronto.
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, as of September 30, 2020, Onex has approximately $36.6 billion of assets under management, of which approximately $6.7 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 $36 billion, generate annual revenues of $22 billion and employ approximately 149,000 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.
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.
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