The Globe & Mail summarises the 35-year-old private equity firm Onex's business this way:
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On its surface, Onex offers a straightforward model. It scours the world in search of undervalued or tarnished companies that it can polish up through cost-cutting, restructuring and expansion. It then holds onto, sells or lists the companies through an initial public offering. That stable of companies is also huge, making Onex a perennial Top 20 finisher in [the G&M's] annual ranking of Canada’s Top 1000 companies by revenue.
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Wikipedia has a rather sparse entry:
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https://en.wikipedia.org/wiki/Onex_Corporation>