Civica has been sold for £1,055 million by Omers Private Equity to Partners Group. Omers, the pension provider for municipal employees in Ontario, bought Civica in 2013 for around £400 million.
Since its acquisition of Civica, Omers has invested in key organic growth initiatives as well as mergers, where Civica has acquired and integrated 12 highly complementary businesses.
Martin le Huray, European Co-Head, Omers Private Equity, said, “Since 2013, we have supported Civica in its ambitious growth strategy with great results, as the company has expanded both the breadth and quality of its products and services to its customers. Civica moves on from our period of ownership significantly enhanced in scale and capability and well placed to further deliver critical services to its customers around the world.”
Simon Downing, executive chairman, Civica said, “We have enjoyed a very good relationship with Omers over the last four years. They shared our vision for the company and have fully supported us with their differentiated approach and unconstrained capital.”