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Onex's midmarket PE platform to buy International Language Academy of Canada

ONCAP, Onex Corp.'s middle-market private equity platform, agreed to acquire International Language Academy of Canada for an undisclosed amount.

ONCAP will make the investment in the Canada-based private English language school through the $1.1 billion ONCAP IV fund.

The transaction is expected to close in the third quarter, subject to customary conditions and regulatory approvals.