News Release Tile

OMERS Private Equity ("OPE"), the private equity investment arm of OMERS, has completed the previously announced sale of Maxxam Analytics International Corporation (together with its affiliates, "Maxxam" or the "Company") to France-based public company Bureau Veritas SA ("Bureau Veritas") for an enterprise value of CAD$650 million.

Founded over 40 years ago, Maxxam has developed into Canada's leader in analytical services and solutions to the energy, environmental, food and DNA industries. Maxxam processes approximately 2.5 million samples and generates in excess of 41 million results annually through the only national network of laboratories. Since OPE acquired Maxxam in September 2008, its revenue has grown by 80%, and the Company has continued to strengthen its market position both organically and through strategic acquisitions.

“We are very proud to have played a strong role in Maxxam’s success over the past five years working in partnership with the company’s outstanding management team. It has been an excellent investment for OPE since 2008, and we are very pleased to have completed the sale with such a positive result and significant value generation for OMERS members,” said Don Morrison, Senior Managing Director and Co-Head North America of OPE.

“As part of its long-term, strategic plan OMERS is focused on direct ownership and active management of its investments. At OPE the effectiveness of this program was highlighted in 2013 by three realizations which resulted in a combined return in excess of 40% and a combined multiple-of-money in excess of 4.0x. We are optimistic about future opportunities to redeploy our capital in other market-leading businesses,” said Paul Renaud, President and CEO of OPE.