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Weil, CC and Travers line up on £1bn Canadian private equity pensions deal

Weil, Gotshal & MangesClifford Chance (CC) and Travers Smith have advised on the £1bn sale of Civica by the private equity arm of Canadian pensions company OMERS to funds managed by global investor Partners Group.

Weil advised its longstanding client OMERS private equity on the transaction, while CC acted for Partners Group and Travers Smith represented Partners Group’s management.

OMERS private equity originally purchased software company Civica just four years ago for £390m. With the sale valued at just over £1bn, OMERS private equity has made a significant profit on its investment.

Weil London-based private equity partner Marco Compagnoni led for the firm on the deal, alongside banking and finance partner Tom Richards and tax partner Oliver Walker.

Compagnoni told Legal Business that the deal was done ‘extremely quickly.’

‘We bought Civica for OMERS a few years ago. It is always very satisfying when you have bought a company for a client and then you get to see that company thrive and move on to the next stage in its development’, Compagnoni said.

The Travers Smith team was led by senior partner Chris Hale, with support from private equity partner Adam Orr and tax partner Hannah Manning. Clifford Chance’s global private equity head Jonny Myers led for his firm alongside M&A partner Spencer Baylin.

Since the beginning of the year, Weil has advised on 14 deals over the £1bn mark with a total transaction value in excess of £30bn. In January, it advised Advent and Bain Capital Private Equity in its $745m purchase of German payment provider Concardis.

Civica is a company which provides software solutions to organisations in the public sector, employing around 3,700 employees worldwide.