OMERS Private Equity (OPE) has agreed to acquire Inmar from ABRY Partners. ABRY acquired Inmar from New Mountain Capital in January 2014 and will continue to be a significant shareholder in the company.
Inmar is an operator of commerce networks that are used by retailers, wholesalers and manufacturers to manage reverse logistics (product returns), facilitate promotions and recover revenue through secondary marketing of returned products. Inmar serves over 1,000 business clients, annually processing billions of returned goods, promotional transactions and pharmaceutical claims. The company, led by CEO David Mounts, was founded in 1980 and is based in Winston-Salem, NC (www.inmar.com).
“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.
OMERS Private Equity manages the private equity activities of OMERS, one of Canada’s largest pension funds. The group’s investment strategy includes the active ownership of businesses in North America and Europe. Sectors of interest include manufacturing, financial and business services, industrial and consumer products, transportation, and technology. Investment sizes range from $200 million to $700 million. The firm is located in Toronto with offices in New York and London and has $6 billion of investments under management (www.omerspe.com).
“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,” said Michael Graham, OPE Senior Managing Director and Head of North America.
ABRY invests in the media, communications, and business and information sectors. The firm is currently managing $4.3 billion of total capital and investing out of a $1.9 billion private equity fund, a $950 million senior equity fund and a $1.5 billion senior debt fund. ABRY was founded in 1989 and is headquartered in Boston (www.abry.com).
Wells Fargo Securities is the financial advisor to Inmar. Credit Suisse and Wells Fargo Securities are serving as joint lead arrangers and joint bookrunners for the credit facilities in support of the transaction which is expected to close in the second quarter of 2017.
© 2017 Private Equity Professional | April 5, 2017
