Software solutions developer Civica Group has been acquired by international private equity firm Partners Group for more than £1 billion.
London-based Civica Group, which was acquired from OMERS Private Equity, provides services to the public sector and commercial organisations.
It has 30 offices across the UK and employs 3,700 people, with three-quarters of them based in the UK and the rest in Asia, Australasia and North America.
“We have been impressed by Civica’s track record of long-term growth,” said Bilge Ogut, managing director of Private Equity Europe, Partners Group.
“We see our investment as an opportunity to back a high-quality market leader in a sector with evolving customer needs and the potential to increase scale through select acquisitions.
“We are excited to work with Civica under the leadership of Simon Downing and Wayne Story and to continue to grow the business.”
Simon Downing, chairman of Civica, said: “Civica has performed extremely well during the period of OMERS ownership, and moves on significantly enhanced in scale and capability.
“The business is very well placed to respond to the changing needs of our customers and the investment by Partners Group, with its emphasis on working alongside management to grow companies, ensures we have access to the resources and support to build on our existing plans.”
Wayne Story, chief executive of Civica, said: “This is a very positive development to support our ongoing strategy for the benefit of customers, employees and other stakeholders.
“Under the ownership of Partners Group, it will be an enhanced version of business as normal led by the existing management team, and we remain committed to our strategy and to the long term development of Civica.
“We believe our continued commitment to customers and our sustained investment in our people and our products, along with the hands-on support of our new investor, provides an excellent foundation for the future success of the business.”