Onex wraps up acquisition of SMG from Ares Capital
Canadian private equity firm Onex Corp has wrapped up its acquisition of SMG Holdings Inc, a West Conshohocken, Pennsylvania-based manager of convention centres, stadiums, arenas, theatres, performing arts centres and other venues. No financial terms were disclosed for the previously announced deal; however, Reuters reported Onex paid about US$1 billion and contributed about US$440 million in equity. The seller was Ares Capital Corp, which acquired SMG in 2017 from American Capital. Last November, Onex closed its fifth flagship fund, Onex Partners V, at US$7.15 billion.
23 January 2018•2 mins read
