ONEX Corporation: Onex Partners Announces the Sale of Emerald Holding, Inc. to Apollo Funds
Onex Partners announced the sale of Emerald Holding Inc., a U.S.-based B2B event organizer, to Apollo Funds for approximately $1.5 billion, with the transaction expected to close in the second half of 2026. The deal will see Emerald delist from the New York Stock Exchange and become a private company under Apollo’s ownership, while Onex Partners III and V will receive full liquidity on their investments.
Onex Partners, a Canadian investment firm, has finalized the sale of Emerald Holding Inc. (NYSE:EEX), a U.S.-based B2B event organizer, to Apollo Funds for about $1.5 billion. The transaction, announced May 11, 2026, grants Apollo full ownership of Emerald, which will delist from the New York Stock Exchange and transition to a private company. Emerald specializes in business-to-business events, including trade shows, conferences, and executive networking platforms. The company has expanded its portfolio under CEO Hervé Sedky, who joined during the pandemic. Onex Partners, which owns over 90% of Emerald’s shares, will receive full liquidity through its funds Onex Partners III and Onex Partners V. The deal is expected to close in the second half of 2026, pending regulatory approvals. Goldman Sachs served as Emerald’s financial advisor, while William Blair & Company and Solomon Partners advised Onex Partners on the sale. Onex Partners, based in Toronto, manages over $59.2 billion in assets across global platforms. The firm focuses on equity investments in North America and Europe, with a history of acquiring operating companies and completing add-on acquisitions. Emerald’s transition to Apollo Funds marks a strategic shift for Onex, allowing it to exit the investment while positioning Emerald for continued growth under private ownership.
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