Onex Corporation to acquire Gluskin Sheff for $445mn

By tarvicn vicn

The Toronto-headquartered private equity company, Onex Corporation, has entered into a definitive agreement to acquire Gluskin Sheff.

The company will acquire the Toronto-based wealth management firm for CA$445mn (US$331.3mn), paying CA$14.25 (US$10.61mn) per share.

“Gluskin Sheff is one of the largest and most respected independent wealth management firms in Canada, serving high net worth families and institutional investors, with a strong long-term track-record of risk-adjusted investment returns and outstanding client service,” stated Gerry Schwartz, Chairman and CEO of Onex.

“By combining Gluskin Sheff’s public securities investing platforms with Onex’ private equity and private debt platforms the clients of both firms will have greater investment options.”

SEE ALSO:

The deal represents a 28% premium on Gluskin Sheff’s closing share price. Gluskin Sheff aims to broaden its product suite available to clients.

“Onex is the ideal partner for us and our clients. We have a strong cultural fit and a like-minded approach to investing and risk management, which includes financial alignment between our teams and our investors,” commented Jeff Moody, President and CEO of Gluskin Sheff.

“This partnership will provide us with the resources to better serve all of our clients and expand our product offerings with alternative investment strategies.”

Share

Featured Articles

How Elon Musk pulled off a $44bn hostile takeover of Twitter

As the world’s richest man, Elon Musk, takes over tech giant Twitter, we highlight the timeline that led to this titanic takeover

Amazon, Alphabet, Wells Fargo best workplaces, says LinkedIn

The top 50 workplaces to grow careers prioritise flexible work and tuition-support programs, as top-ranking firms Amazon and Alphabet prove, says LinkedIn

Top 10 women in technology in the US

These 10 women in tech are forging a path into bold areas of innovation and technological ambition, according to sister publication Technology Magazine

8 executive moves to crypto – from mainstream to startup

Technology & AI

Digital Twins tech ‘missing link’ in urban decarbonisation

Technology & AI

The Metaverse Foundry from Infosys is a business playground

Technology & AI