Private equity firm Onex Corp. continues its recent acquisition streak by purchasing a 50 percent stake in BBAM LLC, a manager of commercial jet aircraft, for $165 million.

Onex and the BBAM management team also announced the purchase of $25 million of newly issued shares of FLY Leasing Ltd., a lessor of commercial jet aircraft managed by BBAM.

Both deals came out of the firm's third fund, Onex Partners III, which invested $185 million, of which Onex’ share was $47 million as a limited partner.

BBAM's U.S. offices include New York, Incline Village, Nev. and San Francisco. It also has overseas operations in Dublin, London, Tokyo, Singapore, Santiago, Chile and Zurich, Switzerland.

The deal follows the Toronto-based buyer's Dec. 31 investment in Bradshaw International Inc., a marketer of well-known household brands, including Good Cook and Mr. Clean. A few weeks earlier, Onex spent $2.3 billion for USI Insurance Services.

In September, Onex made two notable deals: a $734 million acquisition of rubber and plastic manfacturer KraussMaffei and an $813 million purchase of SGS International Inc. from private equity firm Court Square Capital Partners.

For more Onex coverage, read Mergers & Acquisitions' profile of former Onex managing director Andrew Sheiner.

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