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Friday 19 October 2018
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Onex Announces New Majority Owners

ERIE — Onex, Inc. has announced that, as of January 1, 2018, Drew and Ashleigh Walters are officially majority owners. The move culminates a four-year ownership succession plan that involved restructuring the leadership team and repositioning the company for growth.

Onex, Inc. is a woman-owned company. Ashleigh Walters will continue as president and Drew Walters as vice president.

According to a company press release, Onex began as a refractory distributor for the local foundries in 1965. In 1987, Ric Walters purchased the company and expanded their capabilities adding installation and service. As the torch was passed to Drew and Ashleigh, they observed that each generation brings a new life and direction to Onex and they are very excited to see what the future holds.

Ric and Lyn Walters commented, “We have a lot of memories with Onex. We have learned a lot, worked hard and even made mistakes along the way; however, we became a better company at the end of the day. We give all our support to Ashleigh and Drew and know Onex’s team will too.” Building on the company’s commitment to customer-focused solutions, Drew and Ashleigh are strategically expanding Onex’s Blue Diamond Furnace division into a full-service industrial furnace OEM. This move leverages Onex’s proven designs and deep technical experience.

Typically, only 30 percent family owned companies make it to the second generation of family ownership. Drew stated, “We are proud of this accomplishment, but the journey has not been an easy one.”

In addition to transforming their company for success, Onex is actively engaged in building a stronger local economy with manufacturing career opportunities. Ashleigh recently stated, “We hope to make a difference in our community by supporting our local manufacturers to rebuild Erie from the inside out. Our goal is to change the perception of manufacturing through various initiatives to reestablish the inspiration to pursue manufacturing careers.”

For more information, visit www.onexinc.com.