News Column

Canada : ONEX to invest in YORK RISK SERVICES GROUP

July 19, 2014



Onex Corporation has agreed to buy York Risk Services Group, Inc., a premier provider of risk management, claims management and managed care services. The acquisition is worth $1.325 billion.

Pending customary conditions and regulatory approvals, the deal is due to close in Q3. Robert Le Blanc, a Senior Managing Director with Onex stated: York s management team, led by Rick Taketa, is building an outstanding insurance services platform providing comprehensive solutions to its clients. We are excited to partner with Rick and his team to continue York s impressive track record of growth both organically and through strategic acquisitions.

Rick Taketa, CEO of York added: Onex is a great partner, and its investment will facilitate our growth and the continued development of the products and services we offer. Most important, the transaction will be positive for our clients, our employees and our operations.

Onex Partners III, certain limited partners as co-investors, including Onex, and York s management team will make the equity investment of nearly $560 million.

York employs 3,800 staffs serving over 6,300 consumers through 75 offices.


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Source: TendersInfo (India)


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