Onex to acquire wealth manager Gluskin Sheff for $445 mln
Canadian private equity firm Onex Corp has agreed to acquire 100 percent of Gluskin Sheff + Associates Inc (TSX: GS), a Toronto-based wealth management firm. The deal, expected to close in H1 2019, will see Onex pay about $14.25 per share for the company, for a total cash consideration of about $445 million. Established in 1984 by Ira Gluskin and Gerald Sheff, Gluskin Sheff will continue to be led by existing management and operate under its brand. Onex Chairman and CEO Gerry Schwartz said the combination of his firm's private equity and private debt platforms and Gluskin Sheff’s public securities investing platforms will provide clients of both with "greater investment options.”
25 March 2019•5 mins read
