OMERS Private Equity ("OPE"), the private equity arm of OMERS, the pension plan for municipal employees in Ontario, together with management, has agreed to acquire Inmar (“Inmar” or the “Company”) from ABRY Partners (“ABRY”). ABRY will continue to be a significant shareholder in the Company.
Founded in 1980 and headquartered in Winston-Salem, North Carolina, Inmar operates intelligent commerce networks, connecting offline and online transactions in real time for the world’s largest retailers, manufacturers and trading partners across multiple industries. Inmar’s customers rely on the Company to securely manage billions of dollars in transactions across its promotions, supply chain, and healthcare platforms. In addition, Inmar’s platforms generate meaningful data and enable the Company to provide clients with actionable analytics and insights to meet the evolving needs of shoppers, patients and businesses.
David Mounts, Chairman and CEO of Inmar, said, “We are excited to partner with OPE at this stage in Inmar’s evolution and equally excited to be continuing the strong relationship we have with ABRY who I have come to respect and appreciate deeply for their collaboration and knowledge.” Mr. Mounts continued, “OPE brings significant financial resources and experience in partnering with growing companies like Inmar. With OPE and ABRY behind us we will increase investment in technology and expand into new and emerging markets. Our partnership will position us to capitalize on our platform and set in motion the next phase of substantial growth.”
“We look forward to partnering with David and the entire management team to support the Company’s next phase of growth. Inmar is an excellent addition to our growing business services portfolio,” said Eric Haley, Managing Director at OPE. “Inmar’s focus on being a trusted intermediary for its customers has continued to impress us, and we believe the Company will continue to be a leader in the markets it serves.”
“The investment in Inmar is consistent with OPE's strategy of acquiring industry leading companies with world class management. The Company has steadily grown beyond commerce and into analytics and engagement solutions, which is an area where we see great opportunity. Unlike traditional PE firms, OPE can hold investments for longer durations, and Inmar, like recent investments in DTI/Epiq and Forefront Dermatology, matches up well with our strategy of choosing assets that have excellent long-term fundamentals,” said Michael Graham, OPE Senior Managing Director and Head of North America.
OPE will support management to continue its impressive track record of profitable growth both organically and through strategic acquisitions.
This transaction is expected to close in the second quarter of 2017.
Weil Gotshal & Manges LLP is acting as legal counsel for OMERS Private Equity. Kirkland & Ellis is acting as legal counsel for ABRY Partners and Inmar. Wells Fargo Securities, LLC is acting as financial advisor to Inmar. Credit Suisse and Wells Fargo Securities, LLC are serving as joint lead arrangers and joint bookrunners for the credit facilities in support of the transaction.
