OMERS Private Equity (OPE), the private equity investment arm of OMERS, has entered into an agreement to sell Maxxam Analytics International Corp. to France’s Bureau Veritas for $650 million.

Since OPE acquired Maxxam in September 2008, Maxxam’s revenue has grown by 80%.

“We are very proud to have been part of the Maxxam success story over the last five years and of our relationship with Jon Hantho, CEO of Maxxam, and his outstanding management team,” says Don Morrison, senior managing director and co-head, North America, for OPE. “This is OPE’s third exit during 2013, all of which have achieved exceptional realized returns highlighting the strength of our direct investment program.”

Maxxam provides analytical services and solutions to the energy, environmental, food and DNA industries.

The transaction is expected to close in the first quarter of 2014, subject to satisfaction of customary closing conditions.

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Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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