Integris Acquired by OMERS Private Equity in Strategic Move
Deal News | Dec 03, 2024 | Globenewswire
OMERS Private Equity has announced its entry into the IT managed services provider sector with the acquisition of a majority stake in Integris, a U.S.-based IT services company. The acquisition signifies OMERS' commitment to expanding its portfolio in the rapidly growing IT MSP sector by leveraging Integris’ expertise and market position. Integris provides a suite of outsourced IT, cloud, and cybersecurity services to SMBs across the U.S. This acquisition aims to support Integris's continued growth and strategic acquisitions. Integris, previously owned by Frontenac, a Chicago-based PE firm, will continue to operate with its existing leadership, ensuring continuity and maintaining its growth trajectory. The transaction, backed by legal and financial advisors DLA Piper, Baird, and Cravath, Swaine & Moore LLP, is expected to conclude by December 2024.
Sectors
- Private Equity
- Information Technology Services
Geography
- United States – Integris is a U.S.-based company providing IT services nationally, indicating the primary operational geography.
- Canada – OMERS Private Equity is part of OMERS, a Canadian pension plan, reflecting Canadian involvement in the transaction.
Industry
- Private Equity – The involvement of OMERS Private Equity and Frontenac signifies this primarily as a private equity transaction.
- Information Technology Services – The focus on Integris, an IT managed services provider, highlights the IT services industry.
Financials
- Not Disclosed – Financial terms of the transaction were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Integris | Target Company | Company | A provider of outsourced IT, cloud, and cybersecurity services headquartered in New Jersey. |
| OMERS Private Equity | Bidding Company | Company | The private equity arm of OMERS, one of Canada's largest pension plans. |
| Frontenac | Selling Company | Company | A Chicago-based private equity firm that specializes in lower middle market buyout transactions. |
| DLA Piper | Legal Advisor | Company | Provided legal counsel for Integris and Frontenac. |
| Baird | Financial Advisor | Company | Served as financial advisor for Integris and Frontenac. |
| Cravath, Swaine & Moore LLP | Legal Advisor for OMERS | Company | Provided legal counsel for OMERS Private Equity. |