The private equity arm of Ontario Municipal Employees Retirement System, Toronto, has signed a definitive agreement to acquire a majority stake in Integris from Frontenac, a Chicago-based private equity firm.
Financial terms of the transaction were not disclosed, said a Dec. 3 news release.
Based in New Jersey, Integris offers outsourced IT, cloud, and cybersecurity services to small and medium-sized businesses across the U.S. The transaction, which is expected to close this month, will mark OMERS Private Equity’s initial entry into the IT managed services provider business, which is a “large and rapidly growing sector,” the release noted.
“This investment provides an opportunity to establish our presence in the sector and enhance our business services portfolio,” said Eric Haley, senior managing director and head of buyout, OMERS Private Equity.
OMERS had C$128.6 billion ($97 billion) in net assets as of Dec. 31, 2023, including approximately C$25.1 billion in private equity assets.
