Onex Partners and BPEA Announce Secondary Offering of Clarivate Analytics
December 04 2019 - 8:52PM
Onex Corporation (“Onex”) (TSX: ONEX), Baring Private Equity
Asia (“BPEA”) and their affiliated funds (together the “Group”),
today announced the sale of 43.2 million ordinary shares of
Clarivate Analytics plc (“Clarivate”) (NYSE: CCC; CCC.WS) at
an offering price of $17.25 per share. The underwriters were
granted a 30‑day option to purchase up to 6.48 million
additional ordinary shares from the Group. Clarivate is a
global leader in providing trusted insights and analytics to
accelerate the pace of innovation.
At the offering price and before the
underwriters’ option, gross proceeds to the Group will be
approximately $745 million, of which Onex’ share will be
approximately $203 million as a Limited Partner in Onex Partners IV
and as a co-investor. The Group will continue to hold
approximately 134.6 million ordinary shares of Clarivate,
making it the largest shareholder with an interest of 44%.
Onex will continue to hold approximately 36.6 million ordinary
shares for a 12% interest.
The offering is expected to close on December 9,
2019, subject to customary closing conditions.
A registration statement relating to these
securities was declared effective by the Securities and Exchange
Commission on December 4, 2019. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy
these securities, nor shall there be any sale of these securities
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
About Onex
Founded in 1984, Onex invests and manages
capital on behalf of its shareholders, institutional investors and
high net worth clients from around the world. Onex’ platforms
include: Onex Partners, private equity funds focused on larger
opportunities in North America and Europe; ONCAP, private equity
funds focused on middle market and smaller opportunities in North
America; Onex Credit, which manages primarily non-investment grade
debt through collateralized loan obligations, private debt and
other credit strategies; and Gluskin Sheff’s actively managed
public equity and public credit funds. In total, Onex has
approximately $38 billion of assets under management, of which
approximately $7.0 billion is its own shareholder capital.
With offices in Toronto, New York, New Jersey and London, Onex and
its experienced management teams are collectively the largest
investors across Onex’ platforms.
The Onex Partners and ONCAP businesses have
assets of $38 billion, generate annual revenues of $28 billion and
employ approximately 157,000 people worldwide. Onex shares
trade on the Toronto Stock Exchange under the stock symbol
ONEX. For more information on Onex, visit its website at
www.onex.com. Onex’ security filings can also be accessed at
www.sedar.com.
About Baring Private Equity Asia
(BPEA)
Baring Private Equity Asia (BPEA) is one of the
largest and most established private alternative investment firms
in Asia, with total committed capital of over $18 billion.
The firm runs a private equity investment program, sponsoring
buyouts and providing growth capital to companies for expansion or
acquisitions with a particular focus on the Asia Pacific region, as
well as investing into companies globally that can benefit from
further expansion into the Asia Pacific region. BPEA also
manages dedicated funds focused on private real estate and private
credit. The firm has a 22 year history and over 180 employees
located across offices in Hong Kong, China, India, Japan, Singapore
and Australia. BPEA currently has over 40 portfolio companies
active across Asia with a total of 220,000 employees and revenues
of approximately $39 billion. For more information, please
visit www.bpeasia.com.
Forward-Looking
Statements
This press release may contain, without
limitation, statements concerning possible or assumed future
operations, performance or results preceded by, followed by or that
include words such as “believes”, “expects”, “potential”,
“anticipates”, “estimates”, “intends”, “plans” and words of similar
connotation, which would constitute forward-looking statements.
Forward-looking statements are not guarantees. The
reader should not place undue reliance on forward-looking
statements and information because they involve significant and
diverse risks and uncertainties that may cause actual operations,
performance or results to be materially different from those
indicated in these forward-looking statements. Except as may
be required by Canadian securities law, Onex is under no obligation
to update any forward-looking statements contained herein should
material facts change due to new information, future events or
other factors. These cautionary statements expressly qualify
all forward-looking statements in this press release.
For further information:
Onex Emilie Blouin Director, Investor Relations+1 416.362.7711 |
BPEARichard BartonNewgate Communicationsrichard.barton@newgate.asia
or +852.9301.2056 |
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