Onex sees 5.7x investment from $1.32 bln sale of BrightSpring
Canadian private equity firm Onex Corp has completed its sale of BrightSpring Health Services, a Louisville, Kentucky-based provider of home and community health services to complex, high-cost populations. The purchase price was about US$1.32 billion, according to U.S. private equity firm KKR, which acquired BrightSpring and merged it with portfolio company PharMerica Corp. Onex acquired a minority interest in BrightSpring in 2004. In 2010, the investor acquired a majority stake in a take-private transaction. Onex said it received total proceeds of about US$1 billion, reflecting a blended gross multiple of invested capital of 5.7 times and a 17 percent gross rate of return.
6 March 2019•2 mins read
