Onex Corp., Canada’s biggest buyout firm, agreed to sell the Warranty Group to an affiliate of TPG Capital in a deal valuing the company at $1.5 billion.

The deal value includes earnings Warranty Group produces from the end of last year through the closing, which is expected in the third quarter of 2014, Onex said today in a statement from Toronto.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.