DNA

OMERS Private Equity sells Maxxam Analytics International

OMERS Private Equity (OPE) has completed the sale of Maxxam Analytics International Corporation to Bureau Veritas for CAD650m.

Founded over 40 years ago, Canada-based Maxxam provides analytical services and solutions to the energy, environmental, food and DNA industries.
 
Maxxam processes approximately 2.5 million samples and generates in excess of 41 million results annually through the only national network of laboratories.
 
Since OPE acquired Maxxam in September 2008, its revenue has grown by 80 per cent and the company has continued to strengthen its market position both organically and through strategic acquisitions.
 
"We are very proud to have played a strong role in Maxxam's success over the past five years working in partnership with the company's outstanding management team. It has been an excellent investment for OPE since 2008, and we are very pleased to have completed the sale with such a positive result and significant value generation for OMERS members," says Don Morrison, senior managing director and co-head North America of OPE.
 
"As part of its long-term, strategic plan OMERS is focused on direct ownership and active management of its investments. At OPE the effectiveness of this programme was highlighted in 2013 by three realisations which resulted in a combined return in excess of 40 per cent and a combined multiple-of-money in excess of 4.0x. We are optimistic about future opportunities to redeploy our capital in other market-leading businesses," says Paul Renaud, president and CEO of OPE.

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