Sunday, April 20th6.3°C
21104
20447

OMERS selling Canadian laboratory services company to France's Veritas

TORONTO - 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.

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.

The Canadian Press


Read more Business News

20970


Recent Trending




Today's Market
S&P TSX14500.39+53.87
S&P CDNX998.770.80
DJIA16408.54-16.31
Nasdaq4095.516+9.291
S&P 5001864.85+2.54
CDN Dollar0.90720.00
Gold1293.80-9.2999
Oil104.59+0.83
Lumber326.10-2.70
Natural Gas4.735+0.205

 
Okanagan Companies
Pacific Safety0.115+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.29+0.07
Cantex0.055+0.01
Anavex Life Sciences0.3750.00
Metalex Ventures0.08+0.005
Russel Metals30.66+0.11
Copper Mountain Mining2.35-0.07
Colorado Resources0.255-0.01
ReliaBrand Inc0.12-0.01
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.25+0.02

 





FEATURED Property
1899611QUINTESSENTIAL WEST COAST WATERFRONT for sale by owner NEAR NANAIMO
more details
Click here to feature your property
Please wait... loading


Learning to flirt with the edge

With all of the adventure activities I have done and still do, I wonder sometimes if the edge still exists. The systematic approach to learning a new adventure or extreme activity combined with the r...


Time spent prospecting

How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...


Valuation fears grip markets

The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...

_



21637

20956


Member of BC Press Council


21202