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Onex chairman Gerald Schwartz. (Nathan Denette/THE CANADIAN PRESS)
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Onex enters insurance with a tailwind in the sector
Sean Silcoff
— The Globe and Mail
Published
Last updated
Onex Corp., the Bay Street private equity giant, has made a specialty out of investing in industrial sectors, typically by buying “carved out” divisions of larger firms such as IBM and Boeing. Its latest deal – a $2.3-billion (U.S.) purchase of U.S. property-and-casualty-insurance brokerage USI Holdings Corp. from Goldman Sachs Capital Partners – may be a departure, but it looks to be a shrewd investment nonetheless
