Canada-based private equity firm Onex Corp. has agreed to buy 100 percent of wealth management firm Gluskin Sheff + Associates Inc.’s equity for around C$445 million ($331.4 million) or $10.61 per share.
Onex said that merging Gluskin Sheff’s public securities investing platforms with its private equity and private credit platforms will give the clients of both firms greater investment options.
Gluskin Sheff also said that the collaboration will provide it with the resources to better serve all of its clients and extend the company’s product offerings with alternative investment strategies.
The deal is expected to close in the first half of 2019, subject to receipt of Gluskin Sheff shareholder, court approvals, required regulatory approvals and customary closing conditions.