Onex Acquires Majority Stake in OneDigital from New Mountain Capital
October 8, 2020
Onex Corporation (the Onex Group) agreed to acquire a majority ownership stake in OneDigital from New Mountain Capital, with the transaction valuing OneDigital at $2.65 billion and including an approximate $960 million equity investment by Onex. OneDigital, a leading U.S. employee benefits brokerage and retirement/wealth advisory firm headquartered in Atlanta with more than 2,000 employees, will have Onex and employees owning roughly 83% upon closing; New Mountain will sell down its position. The deal is expected to close in late 2020 pending customary approvals, including HSR clearance.
- Buyers
- Onex Corporation (Onex Group)
- Targets
- OneDigital
- Sellers
- New Mountain Capital
- Industry
- Insurance
- Location
- Georgia, United States
- Transaction Type
- Recapitalization
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