The Ontario Municipal Employees Retirement System's private equity investment unit OMERS Private Equity has completed the purchase of Civica from private equity firm 3i. Also included in the transfer are the funds managed by 3i, making for the full enterprise value of the sale at GBP390 million.
Civica is a leader in specialized software systems, cloud based IT services and technical outsourcing services to public sector entities around the world, especially in the UK.
According to Mark Redman, Senior Managing Director & Country Head - Europe OMERS Private Equity, "We are very pleased to be working with Simon and his team to support Civica in its next phase of development. Civica has a proven track record and we are confident that together we can build an even greater business."
In response, Simon Downing, Civica's CEO said, "I very much look forward to working with OPE. Their patient capital approach is an ideal fit for Civica and our customers as we seek to capitalise on the many opportunities ahead of us. We see OPE as long term partners, who will support us as we continue to expand the Civica offering both in the UK and internationally."
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