OMERS Private Equity (OPE), the private equity investment arm of the OMERS pension plan, has completed the purchase of Civica from 3i and funds managed by 3i for an enterprise value of GBP390m.
Civica is a provider of software systems, cloud-based IT services and technical outsourcing, primarily to public sector organisations in the UK and around the world. Civica has extensive capabilities and presence across local government, education, social housing, healthcare, and emergency services. The company employs over 2,000 staff, around 60 per cent of which are based in the UK.
OPE will support the management team as they seek to capitalise on organic growth opportunities, and to combine this with selective acquisitions to further enhance the product and service capabilities of the company. Civica’s management team, led by long-term chief executive Simon Downing, will also reinvest and continue leading the business.
Mark Redman, senior managing director & country head – Europe of OMERS Private Equity, says: “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.”
Downing says: “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.”
