Topic: How To Invest

Hi Pat: What is your opinion on Onex Corp.?

Article Excerpt

Onex Corp., $23.35, symbol OCX on Toronto, (Shares outstanding: 121.5 million; Market cap: $2.8 billion) is a Toronto-based private equity investment firm. Onex has global investments in the service, manufacturing and technology industries. Onex’s interests include Sitel Worldwide (66%), Carestream Health (38%), Husky Injection Molding Systems (36%), Tube City IMS (36%), The Warranty Group (29%), RSI Home Products (20%), Center for Diagnostic Imaging (19%), Hawker Beechcraft (19%), Tropicana Las Vegas (16%), Allison Transmission (15%), Emergency Medical Services (13%), Celestica (12%), Skilled Healthcare Group (9%), Spirit AeroSystems (6%) and Res-Care (6%). Onex also makes private-equity investments through the Onex Partners, the Oncap family of funds and a real-estate fund. The company gets about $80 million U.S. in annual management fees from its various funds. It has $6.8 billion of managed capital and $3.9 billion of its own capital invested. Onex’s management owns 28 million shares, or 23% of the company. Onex continues to grow by acquisition, which can be risky. Newly purchased companies may…

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