The Ontario Municipal Employees’ Retirement System is investing in an Arizona-based solar energy business.

In a deal reached with Clairvest Group Inc., the institutional investor secured a minority stake in NovaSource Power Services, which provides solar panel servicing for industrial and residential customers and manages 20 gigawatts of solar assets. Following the transaction, Clairvest will maintain a majority stake in the business.

Read: Caisse backing customer retention platform, OMERS acquiring plumbing and HVAC service provider

“As long-term investors with deep expertise in services-based businesses, we are thrilled to partner with . . . NovaSource, as well as with Clairvest, to help accelerate the company’s growth and to support the global energy transition by maintaining the lifecycle and efficiency of critical clean energy assets like solar panels,” said Scott Hauser, director of private equity at the OMERS, in the release.

In other news, the Canada Pension Plan Investment Board and the Caisse de dépôt et placement du Québec are reinvesting in Montreal-based professional services firm WSP Global Inc. Both institutional investors purchased shares in WSP as part of a private sale held during its initial public offering. The 3,032,550 private placement common shares sold for an average of $151.75 during the IPO, securing the company approximately $460 million.

Following the IPO, the Caisse controlled 18.5 per cent of the business, or 20,692,848 common shares. The CPPIB controlled 19 per cent of the business, or 21,344,068 common shares worth about $2.76 billion.

Read: CPPIB investing in discount grocery chain, OMERS acquiring infrastructure service provider

The funding round follows WSP Global’s acquisition of U.K.-based consulting firm RPS Group earlier this month. The proceeds from the IPO and private share sales have been earmarked to fund part of the acquisition.