OMERS to earn 2.6x its money with $1.72 bln sale of Civica

OMERS Private Equity (OPE) has agreed to sell Civica, a U.K. provider of public sector software, digital solutions and technology-based outsourcing services, for about $1.72 billion (£1.055 billion). The buyer is Partners Group, a European private equity firm. Launched in 2002, London-based Civica was acquired by OPE from 3i Group in 2013 for £390 million. OPE said it has since supported the company's organic growth and acquisition of a dozen complementary businesses. OPE, the private equity arm of Canadian pension fund OMERS, said the sale of Civica, its tenth exit globally in the past three years, will generate a multiple of 2.6x its invested capital.

DealsCanadaNorth AmericaBriefs