Private equity firm GI Partners will buy Canadian health care technology company Logibec Inc. from the investment arm of the Ontario Municipal Employees’ Retirement System, GI Partners said Friday.
OPE will continue to hold Logibec’s current U.S. subsidiary MatrixCare pursuant to a pre-closing spin out transaction.
Logibec was founded in 1982 and taken private by OPE in 2010.
“We’re very pleased to announce another successful realization in the OPE portfolio,” says Lisa Melchior, managing director at OPE. “Our investment in Logibec is a clear demonstration of our strategy, partnering with great management teams and adding value to strong companies to generate returns for OMERS.”
The transaction is expected to close in the first quarter of 2015, subject to satisfaction of customary closing conditions.