Onex to buy wealth manager Gluskin Sheff in 445 million deal

first_img Sponsored By: Recommended For YouJapan ruling bloc to keep simple majority in upper house, may get 2/3- NHK exit pollDavid Rosenberg: Deflation is still the No. 1 threat to global economic stability — and central banks know itTrans Mountain construction work can go ahead as National Energy Board re-validates permitsBank of Canada drops mortgage stress test rate for first time since 2016The storm is coming and investors need a financial ark to see them through What you need to know about passing the family cottage to the next generation March 25, 20197:13 AM EDTLast UpdatedMarch 25, 20195:04 PM EDT Filed under News FP Street Facebook Gerry Schwartz, chairman and chief executive of Onex.Galit Rodan/Bloomberg Onex to buy wealth manager Gluskin Sheff in $445 million deal Gluskin Sheff will continue to be led by its existing leadership team and operate under its brand ← Previous Next → Comment More Emailcenter_img Share this storyOnex to buy wealth manager Gluskin Sheff in $445 million deal Tumblr Pinterest Google+ LinkedIn Reddit Onex Corporation is acquiring wealth management firm Gluskin Sheff + Associates Inc. in a  $445 million deal.The private equity firm said Gluskin Sheff will continue to be led by its existing leadership team and operate under its brand.The $14.25 per share offer represents a 28 per cent premium to Gluskin Sheff’s closing share price on Friday, March 22.“Gluskin Sheff is one of the largest and most respected independent wealth management firms in Canada, serving high net worth families and institutional investors, with a strong long-term track-record of risk-adjusted investment returns and outstanding client service,” said Gerry Schwartz, chairman and chief executive of Onex, in a press release.“By combining Gluskin Sheff’s public securities investing platforms with Onex’ private equity and private debt platforms the clients of both firms will have greater investment options.”More to come … Featured Stories 1 Comments Financial Post Staff advertisement Twitter Join the conversation →last_img read more