Fried Frank Guides Onex's $960M Investment In OneDigital

Law360 (October 8, 2020, 4:14 PM EDT) -- Onex Corp. said Thursday it will acquire a majority stake in OneDigital for $960 million with guidance from Fried Frank Harris Shriver & Jacobson LLP, a deal that values the employee benefits adviser at $2.65 billion.

Onex Corp. and its affiliated funds will purchase the stake in part from OneDigital's current majority owner, New Mountain Capital LLC, the announcement said. Following the transaction, Onex Group and OneDigital's employees will own about 83% of the company, the announcement said.

The Toronto-headquartered private equity firm highlighted OneDigital's business strategy and ongoing growth. OneDigital provides retirement, employee benefits and human resources consulting services, according...

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