Onex, Inc., is proud to announce that as of January 1, 2018, Drew and Ashleigh Walters are officially majority owners of Onex, Inc. This move culminates a four-year ownership succession plan which involved restructuring the leadership team, repositioning the company for growth, while consistently delivering outstanding products and service to our valued customers. Onex, Inc. is a woman-owned company, Ashleigh Walters will continue as President of Onex Inc., and Drew Walters as Vice President.
Passing the Torch
Onex began as a refractory distributor for 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 observe 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. Therefore, this move leverages Onex’s proven designs and deep technical experience.
Beating the Odds
Typically, only 30% of 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 commented, “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.”