OMERS Private Equity announces agreement to acquire Integris, a leading provider of IT services in the United States
Investment will help accelerate the company’s expansion across the U.S.
NEW YORK, Dec. 03, 2024 (GLOBE NEWSWIRE) — OMERS Private Equity today announced the signing of a definitive agreement to acquire a majority stake in Integris (“Integris” or the “Company”) from Frontenac, a Chicago-based private equity firm. Financial terms of the transaction were not disclosed.
Integris offers a full suite of outsourced IT, cloud, and cybersecurity services to small and medium-sized businesses across the United States. Headquartered in New Jersey, the company supports its customers nationally through its network of offices on the East Coast, in the Midwest and the South.
The partnership with Integris marks OMERS Private Equity’s entry into the IT managed services provider (MSP) space – a large and rapidly growing sector that delivers IT services to small and medium-sized businesses across various industries. OMERS Private Equity will support management in maintaining its impressive track record of profitable growth, both organically and through strategic acquisitions.
“Integris is a world-class platform that excels in delivering expert outsourced IT services and customer support in an industry with significant growth potential,” said Eric Haley, Senior Managing Director and Head of Buyout, OMERS Private Equity. “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.”
“We are excited to welcome Integris to our portfolio to continue building on what is already an impressive culture, platform, and strategy,” said Geoffrey Bird, Managing Director and Head of Business Services, OMERS Private Equity. “Equally critical is that Integris’ proven leadership team will remain at the helm, ensuring seamless continuity and the continued delivery of outstanding customer service.”
“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,” said Rashaad Bajwa, Founder and CEO, Integris. “At the same time, we extend our sincere gratitude to Frontenac for its investment, leadership, and collaboration over the past four years.”
“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,” added Glenn Mathis, President and COO, Integris. “With their support, we will continue to raise the bar, expanding our national footprint and serving an even larger customer base.”
The transaction is expected to close in December 2024. DLA Piper acted as legal counsel and Baird served as financial advisor for Integris and Frontenac. Cravath, Swaine & Moore LLP acted as legal counsel for OMERS Private Equity.
About OMERS Private Equity
OMERS Private Equity manages investments globally on behalf of OMERS, one of Canada’s largest defined benefit pension plans, with C$128.6 billion in net assets as of December 31, 2023, including approximately C$25.1 billion in net private equity investment asset exposure. The team invests across Industrials, Healthcare, Business Services and Technology, deploying an evergreen capital base to partner with strong management teams and transform good companies into industry leaders around the globe. For more information, please visit www.omersprivateequity.com.
About Integris
Integris is a national, managed IT service provider dedicated to helping small and mid-sized companies power their success through technology. Through a growing network of local service offices and gold-level partnerships with technology vendors, Integris provides companies with comprehensive and a la carte system platform management that’s responsive, secure, regulation ready, and tailored to their industry vertical. Founded in 2021, Integris offers clients the power of a national network, with the personal service of a nearby, local-market MSP. Integris appears regularly on the Inc. 5000 list of fastest-growing companies. Headquartered in Cranbury, New Jersey, Integris employs 600+ professionals nationwide. For more information, visit integrisit.com.
About Frontenac
Frontenac is a Chicago-based private equity firm. The firm focuses on investing in lower middle market buyout transactions in the consumer, industrial, and services industries. Frontenac works in partnership with established operating leaders, through an executive-centric approach called CEO1ST®, which seeks to identify, acquire, and build market-leading companies through transformational acquisitions and operational excellence. Over the last 50+ years, Frontenac has built a franchise working with over 300 owners of mid-sized businesses as they address complex transition issues of liquidity, management enhancement, and growth planning. For more information, please visit www.frontenac.com.
Media Contacts
Vanessa Naughton
Associate Director, Investment Communications, OMERS
T: (416) 356-2827
E: vnaughton@omers.com
Melanie Wolfe
Communications Manager, Integris
T: (737) 279-8815
E: Melanie.Wolfe@integrisit.com
Teri Tadros
Director of Strategic Growth, Frontenac
T: (312) 748-5075
E: ttadros@frontenac.com
