Onex Corp posts profit as revenue climbs

Fri May 16, 2014 7:45am EDT
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TORONTO May 16 (Reuters) - Onex Corp, one of Canada's biggest private equity firms, reported a first-quarter profit and slightly higher revenue.

Onex said it had earned $99 million, compared with a year-earlier loss of $271 million. Revenue rose 3 percent to $6.5 billion, while capital per share increased by 18 percent, above the company's long-term goal of 15 percent.

Toronto-based Onex owns stakes in several companies, including electronics manufacturer Celestica Inc, and manages a handful of private equity funds.

In a statement, the company said it had been an "active seller" of assets in 2014. Along with the Canada Pension Plan Investment Board, it said in April that it would sell industrial conglomerate Gates Corp to private equity firm Blackstone Group LP for $5.4 billion. (Reporting by Cameron French; Editing by Lisa Von Ahn)