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Civica sole on to Swiss investment account Partners Group in £1bn deal

British open sector-focused program and services provider, Civica, has been acquired by Partners Group, a Swiss investment firm, for £1bn. It follows an auction kicked off in Nov final year by Civica’s then-owners, OMERS Private Equity. 

Other bidders in a auction, according to Sky News, were Japanese wiring association NEC, that was rumoured to be meddlesome in profitable between $1.2bn and $1.5bn (£920m-£1.15bn), as good as private equity firms BC Partners, Berkshire Partners and Partners Group. 

Civica has been upheld from post to post given it was offloaded by Sanderson in 2004 in a £79m open share offering. However, that hasn’t prevented a association from prospering.

In 2008, private equiteer 3i took Civica private in a £190m understanding during a time when Civica could exaggerate revenues of £127m. Five years later, revenues had grown to £183m and 3i upheld it on to OMERS Private Equity, a private equity arm of a grant account of Ontario state in Canada, for £390m.

A sale of Civica by OMERS had been mooted given May, nonetheless OMERS reportedly started a auction behind in Nov 2016. Last year, Civica achieved revenues of £268m and an EBITDA of £55m.

Civica CEO Wayne Story pronounced that it would be “an extended chronicle of business as usual” underneath Partners, and that a association would continue to be led by a same government team.

The sale to Partners Group comes only days after Civica was intent in a mark of MA of a own, purchasing Carval Computing, an integrated tellurian resources and payroll systems provider, mostly to a tiny and medium-sized business (SMB) sector.

It claims around 300 installations trimming from organisations with reduction than 100 employees to those with some-more than 10,000. Customers embody Middlesbrough Council, Staffordshire Housing Association, multi-academy trust E-ACT, a Royal Mint and National Express. New business during 2017 embody CGS Trust, Chelsea Academy and Essex Fire Rescue Service.

Carval’s stretchable HR systems embody cloud-based solutions, worker self-service record and mobile apps. Civica described a merger as interrelated to a possess stream program line-up.

Civica CEO Story pronounced of a acquisition: “I am gay to acquire Carval to a Group. The group brings a clever capability with a product set that is really good placed to respond to elaborating patron needs.” 

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