OMERS Private Equity has completed the purchase of Civica from 3i and funds managed by 3i for an enterprise value of £390m.
Civica is a leading provider of specialized software systems and business process services, primarily to public sector organizations in the UK and around the world. The Group applies software, cloud-based IT services and technical outsourcing to help customers transform the way they work.
OPE will support Civica’s management team, led by long-term CEO Simon Downing, to further enhance the Group's product and service capabilities.
"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," said Mark Redman, Senior Managing Director & Country Head – Europe, of OMERS Private Equity.
Civica fits OPE's selective acquisition criteria. It is a market leader with a proven track record in an industry with considerable long-term growth potential and high levels of recurring revenues. Civica's software systems are mission critical and its services are designed to drive improvements in efficiency, lower costs and speed up service delivery.
Operating under the OMERS Worldwide brand, OPE today manages the private equity activities of OMERS and has over $6 billion of investments under management. Headquartered in Toronto, with offices in London and New York, OPE's investment strategy includes the active ownership of businesses in North America and Europe.