David Mansell, a long-time managing director at Onex Partners, is leaving the firm, according to a person with knowledge and an investor letter seen by Buyouts.
Mansell is wrapping up his work and leaving in the next few weeks, according to the letter dated Sept. 9. It’s not clear why Mansell is leaving. No one from Onex returned a request for comment Wednesday.
“We would like to thank David for his significant contribution over the past 17 years,” the letter, signed by Onex management, said.
Mansell joined Onex in 2002. He works out of Toronto and focuses on deals in the consumer and packaging industries. Mansell worked on numerous deals, including SIG Combibloc, KraussMaffei, sgsco, Husky Injection Molding Systems, TMS International and Spirit AeroSystems.
Prior to Onex, Mansell worked at McKinsey & Co. and before that, at Grant Thornton, according to his biography on Onex Partners’s website.
Onex Corporation runs private equity through Onex Partners and middle market focused Oncap. Onex Partners makes large-cap buyouts of companies in North America and Europe.
Onex closed Onex Partners V on $7.15 billion in November 2017, beating its $6.5 billion target. Onex Corporation was one of the largest investors in Fund V, committing $2 billion, the firm said in a statement at the time. The Onex team also made a commitment of $350 million, the firm said.
CEO Gerry Schwartz formed Onex in 1984. He leads the Onex Partners team along with Ewout Heersink, Robert Le Blanc, Seth Mersky and Anthony Munk.
Oncap last year decided to delay the launch of a small-cap platform called Oncap Growth after losing the senior executive focused on the effort, Evan Hershberg. Hershberg left and early this year joined Leonard Green & Partners.
Action Item: Check out Onex Partners’s Form ADV here: https://bit.ly/2mcMr5b