OMERS Acquires Majority Interest in Inmar
OMERS Private Equity ("OPE"), the private equity arm of OMERS, the pension plan for municipal employees in Ontario, has agreed to acquire Inmar Inc. from ABRY Partners, a private equity firm. ABRY will continue to be a significant shareholder in Inmar. Headquartered in Winston-Salem, NC, Inmar, an analytics and technology-enabled service provider, applies technology and data science to improve outcomes for consumers and those who serve them. As a trusted intermediary for over 36 years, Inmar has unmatched access to billions of consumer and business transactions in real time.
Under the direction of L. David Mounts, Chairman and CEO, Inmar has invested heavily in its people, analytics and technology and as a result has delivered tremendous growth organically and through acquisitions. Inmar's team of 4500 dedicated team members in North America continuously earns exceptional client net promoter scores (NPS) and delivers high client retention rates.
"We are excited to partner with OMERS Private Equity at this stage in Inmar's evolution and equally excited to be continuing the strong relationship we have with ABRY Partners, who I have come to respect and appreciate deeply for their collaboration and knowledge," said Mounts. "OMERS brings significant financial resources and experience in partnering with growing companies like Inmar. With OMERS 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."
"Inmar has achieved impressive growth since joining the ABRY Partners portfolio in 2014," said Azra Kanji, Partner for ABRY. "We enjoy a strong relationship and we at ABRY look forward to continuing our partnership working with both Inmar and OMERS to build on Inmar's success."
"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," says Michael Graham, OPE Senior Managing Director and Head of North America.
Kirkland & Ellis LLP is acting as legal counsel for ABRY Partners and Inmar.Weil Gotshal & Manges LLP is acting as legal counsel for OMERS Private Equity. 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.