Onex earns 3.2x invested capital upon final sale of Allison Transmission

Canadian private equity firm Onex Corp has sold its remaining 2.7 million shares of common stock in Allison Transmission Inc (NYSE: ALSN), a U.S.-based manufacturer of transmissions and hybrid-propulsion systems for commercial vehicles. Onex and U.S. private equity firm The Carlyle Group acquired the company from General Motors Co (NYSE: GM) in 2007, with each investor contributing approximately US$763 million to the deal. Onex said that it has since received aggregate proceeds of approximately US$2.4 billion, resulting in a multiple of capital invested of 3.2x and a return on investment of 21 percent per annum.

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