Onex Completes Acquisition of USI
TORONTO, ONTARIO, Dec 27, 2012 (Menafn - MARKETWIRE via COMTEX) --All amounts in U.S. dollars unless otherwise stated
Onex Corporation ("Onex") today announced that it hascompleted the acquisition of USI, a leading U.S. provider ofinsurance brokerage services, for approximately 2.3 billion,including 702 million of equity from Onex Partners III, Onex and USIemployees.
With offices in Toronto, New York and London, Onex is one of theoldest and most successful private equity firms. Onex acquires andbuilds high-quality businesses in partnership with talentedmanagement teams. The Company has approximately 14 billion of assetsunder management, including 4.8 billion of proprietary capital, inprivate equity, credit securities and real estate. Onex invests itsproprietary capital directly and as a substantial limited partner inits Funds.
Onex' businesses have assets of 39 billion, generate annual revenuesof 34 billion and employ approximately 235,000 people worldwide.Onex shares trade on the Toronto Stock Exchange under the stocksymbol OCX. For more information on Onex, visit its website atwww.onex.com.
The company's security filings can also be accessed at www.sedar.com.
Founded in 1994, USI is the 9th largest insurance broker in theUnited States and the 13th largest in the world. USI is headquarteredin Briarcliff Manor, NY, and operates out of approximately 100offices across the United States. Additional information about USImay be found at www.usi.biz.
This news release may contain forward-looking statements that arebased on management's current expectations and are subject to knownand unknown uncertainties and risks, which could cause actual resultsto differ materially from those contemplated or implied by suchforward-looking statements. Onex is under no obligation to update anyforward-looking statements contained herein should material factschange due to new information, future events or otherwise.
Vice President, Investor Relations
SOURCE: Onex Corporation
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