OMERS completes sale of Maxxam Analytics to Bureau Veritas for $650 mln
OMERS Private Equity, an investment arm of the Ontario Municipal Employees Retirement System, has completed its sale of portfolio company Maxxam Analytics International Corp to France's Bureau Veritas SA for $650 million. The Mississauga, Ont.-based Maxxam Analytics, which provides analytical laboratory services to the energy, environmental, food and DNA industries, was acquired for a non-disclosed amount by OMERS in Sept. 2008. According to OMERS, the company has since then shown revenue growth of 80%, and strengthened its market position through organic expansion and acquisitions. OMERS also said that its three PE-backed exits in 2013 resulted in a combined return in excess of 40% and a combined multiple-of-money in excess of 4.0x.
3 February 2014•3 mins read
