CPE Media News – pcJournal (8/1/2018) – Onex Corporation (TSX: ONEX) has closed previously announced investment in PowerSchool Group LLC, a leading education technology platform for K-12 schools.
Onex’ investment was made by Onex Partners IV, its $5.7 billion fund. With the closing of the investment, Onex becomes an equal partner with Vista Equity Partners.
Vista Equity Partners Fund V acquired PowerSchool business from Pearson in July 2015. Concurrent with Onex investment, PowerSchool will acquire Vista Equity Partners owned PeopleAdmin, an Austin, Texas based provider of cloud based talent management solutions for the education sector.
photo credit: PowerSchool
All amounts in U.S. dollars unless otherwise stated
– Onex Completes Investment in PowerSchool –
Toronto, August 1, 2018 – Onex Corporation (“Onex”) (TSX: ONEX) today announced it has completed an investment in PowerSchool Group LLC (“PowerSchool”), the leading education technology platform for K-12 schools. Vista Equity Partners is an equal equity partner with Onex. Onex’ investment was made by Onex Partners IV, its $5.7 billion fund.
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. Onex has more than $32 billion of assets under management, including $6.7 billion of Onex proprietary capital, in private equity and credit securities. With offices in Toronto, New York, New Jersey and London, Onex and the team are collectively the largest investors across Onex’ platforms.
Onex’ businesses have assets of $49 billion, generate annual revenues of $31 billion and employ approximately 207,000 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 news release may contain forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.
For further information:
Director, Investor Relations
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