On August 24, 2021, Wealth Enhancement Group LLC announced that it will receive an investment from Onex Corporation.
Under the terms of the agreement, Wealth Enhancement Group LLC (“WEG”) will receive an equity investment from Onex Corporation and certain of its co-investors (“Onex”). The transaction is expected to close later this year, and terms of the deal were not disclosed.
WEG, based in Minneapolis, Minnesota, is an independent wealth management firm that offers financial planning and investment management services. As of July 31, 2021, WEG had approximately $38.8 billion in assets under management. Raymond James & Associates, Inc. served as financial advisor to WEG on the transaction.
Onex (TSX: ONEX), based in Toronto, is an investment firm and asset manager providing capital services for its shareholders, institutional investors and high net worth clients. As of June 30, 2021, Onex had approximately $46 billion in assets under management.
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