Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Entry archive:

OMERS has named Michael Latimer, left, as its new CEO. He will replace retiring chief executive Michael Nobrega, who leaves the post March 31. (Handout)
OMERS has named Michael Latimer, left, as its new CEO. He will replace retiring chief executive Michael Nobrega, who leaves the post March 31. (Handout)

OMERS sells Maxxam Analytics to France's Veritas in $650-million deal Add to ...

OMERS has agreed to sell Maxxam Analytics International Corp., which operates a network of laboratories across Canada that serve the energy, environmental, food and DNA industries.

The deal values Maxxam at $650 million including assumed debt.

The buyer is Bureau Veritas SA, a French company currently operating in 140 countries with 59,000 employees.

More Related to this Story

Maxxam has about 2,400 employees across Canada and processes more than 2.3 million samples annually.

“This transaction marks an exciting new chapter for the company,” said Jon Hantho, Maxxam’s chief executive officer.

“We appreciate the support and partnership OMERS Private Equity offered throughout the life of their investment. We look forward to continuing to grow Maxxam with our new partner, Bureau Veritas.”

OMERS Private Equity, the private equity arm of the Ontario Municipal Employment Retirement System, bought Maxxam about five years ago.

Since then, Maxxam’s revenue has risen by 80 per cent through internal growth an acquisitions.

Follow us on Twitter: @GlobeBusiness

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories