OMERS Private Equity has announced a definitive agreement to acquire a majority stake in Integris from Frontenac, a Chicago-based private equity firm. The financial details of the transaction remain undisclosed.

Integris specializes in providing outsourced IT, cloud, and cybersecurity services to small and medium-sized businesses throughout the United States. Headquartered in New Jersey, the company operates a network of offices across the East Coast, Midwest, and South, enabling it to support clients nationally.

This acquisition marks OMERS Private Equity's entry into the IT managed services provider (MSP) sector, which is experiencing significant growth. The firm aims to assist Integris in sustaining its strong track record of profitable growth, both organically and through strategic acquisitions.

The deal is anticipated to close in December 2024. DLA Piper served as legal counsel, while Baird acted as financial advisor for Integris and Frontenac. Cravath, Swaine & Moore provided legal counsel for OMERS Private Equity.

Eric Haley, Senior Managing Director and Head of Buyout at OMERS, expressed enthusiasm about the investment, highlighting Integris as a world-class platform with substantial growth potential in the outsourced IT services industry. He emphasized the opportunity to enhance OMERS' business services portfolio through this partnership.

Geoffrey Bird, Managing Director and Head of Business Services at OMERS, noted the excitement of welcoming Integris into their portfolio. He underscored the importance of Integris' leadership team remaining in place to ensure continuity and maintain high standards of customer service.

Rashaad Bajwa, Founder and CEO of Integris, acknowledged the significance of having OMERS as a partner for the company's future success. He expressed confidence in OMERS' ability to scale portfolio companies and gratitude towards Frontenac for its support over the past four years.

Glenn Mathis, President and COO of Integris, echoed the sentiment, stating that OMERS is an ideal partner that aligns with Integris' cultural values and vision. He looks forward to expanding their national presence and serving a larger customer base with OMERS' backing.

Overall, this acquisition positions OMERS Private Equity to capitalize on the growing demand for IT managed services while ensuring that Integris continues to thrive under its established leadership.