BUSINESS

Private equity firm buys Civica in £390m deal

Omers Private Equity (OPE) has purchased Civica from 3i Group for an enterprise value of £390m.

Omers Private Equity (OPE) has purchased Civica from 3i Group for an enterprise value of £390m.

Civica, which provides specialist systems and business process services across local government, will continue with ‘business as normal' with its existing management team.

OPE will help Civica in building on growth opportunities, combined with selective acquisitions to further enhance the product and service capabilities of the company.

Simon Downing, chief executive of Civica, said: ‘There is no change to our trading companies as we carry on 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 that our long term commitment to customers, along with supportive investors, will continue to provide the foundation of the future success of the business and I look forward to working with OPE whose approach is an ideal fit for Civica and our customers.'
 

Popular articles by Laura Sharman

SUBSCRIBE TO CONTINUE READING

Get unlimited access to The MJ with a subscription, plus a weekly copy of The MJ magazine sent directly to you door and inbox.

Subscribe

Full website content includes additional, exclusive commentary and analysis on the issues affecting local government.

Login

Already a subscriber?