Onex Completes Final Realization of Ryan Specialty, Delivering Strong Investing Results

Executive Summary

• Onex Corporation sold approximately 4.1 million Class A common shares of Ryan Specialty Holdings, fully exiting its investment.
• The transaction generated $226 million in cash proceeds for Onex, bringing total realized proceeds from the Ryan Specialty investment to $1.2 billion (3.8× multiple of capital, 49% IRR).
• As part of the exit, Onex CEO Bobby Le Blanc will retire from Ryan Specialty’s board of directors.

Key Details

• Shares Sold: ~4.1 million Class A common shares of Ryan Specialty Holdings, Inc. (NYSE: RYAN).
• Proceeds to Onex: $226 million cash received from the sale.
• Cumulative Returns: Total realized proceeds of $1.2 billion; 3.8× multiple of capital invested; internal rate of return (IRR) of 49%.
• Board Change: Bobby Le Blanc, Onex CEO and board member of Ryan Specialty, will retire from the Ryan Specialty Board following the transaction.
• Quotes:
• Bobby Le Blanc expressed gratitude to Ryan Specialty’s leadership and highlighted the value created for shareholders over seven years.
• Patrick G. Ryan thanked Bobby Le Blanc for his contributions and noted that Onex’s investment was “immensely profitable” and timed well with Ryan Specialty’s growth trajectory.

Notable Quotes

• Bobby Le Blanc: “I am profoundly grateful to Founder and Chairman Pat Ryan, CEO Tim Turner and the entire Ryan Specialty team… It has been a privilege to work with them for the last seven years as they grew and cemented their position as a market leader in specialty insurance solutions.”
• Patrick G. Ryan: “Bobby has been an exceptional director for Ryan Specialty… That investment assisted us at an important time in our growth trajectory and proved to be immensely profitable for Onex as well.”