OMERS Private Equity announced it signed a definitive agreement to acquire a majority stake in Integris from Frontenac, a Chicago-based private equity firm. The financial terms of the deal were undisclosed.
Integris provides a full suite of outsourced IT, cloud, and cybersecurity services to small and medium-sized businesses across the US. Based in New Jersey, the company supports its customers nationally through its network of offices on the East Coast, in the Midwest, and in the South.
This partnership with Integris marks OMERS Private Equity’s entry into the IT managed services provider (MSP) space. This large and rapidly growing sector delivers IT services to small and medium-sized businesses across various industries. And OMERS Private Equity will support management in maintaining its impressive track record of profitable growth organically and through strategic acquisitions.
The deal is expected to close in December 2024. DLA Piper acted as legal counsel and Baird served as financial advisor for Integris and Frontenac. And Cravath, Swaine & Moore acted as legal counsel for OMERS Private Equity.
KEY QUOTES:
“Integris is a world-class platform that excels in delivering expert outsourced IT services and customer support in an industry with significant growth potential. This investment provides an opportunity to establish our presence in the sector and enhance our business services portfolio, backed by a team with deep industry expertise and a strong, customer-centric reputation.”
- Eric Haley, Senior Managing Director and Head of Buyout, OMERS Private Equity
“We are excited to welcome Integris to our portfolio to continue building on what is already an impressive culture, platform, and strategy. Equally critical is that Integris’ proven leadership team will remain at the helm, ensuring seamless continuity and the continued delivery of outstanding customer service.”
- Geoffrey Bird, Managing Director and Head of Business Services, OMERS Private Equity
“As we embark on our next chapter, having the right partner is key to our continued success. With OMERS proven track record of scaling its portfolio companies, we are confident in our ability to drive continued growth and success for Integris. At the same time, we extend our sincere gratitude to Frontenac for its investment, leadership, and collaboration over the past four years.”
- Rashaad Bajwa, Founder and CEO, Integris
“OMERS Private Equity is the ideal partner to build on the strengths of Integris. Our organizations share a strong alignment in cultural values and a unified vision for the future. With their support, we will continue to raise the bar, expanding our national footprint and serving an even larger customer base.”
- Glenn Mathis, President and COO, Integris
