MISSISSAUGA, ON, September 10, 2008 – OMERS Administration Corporation (“OMERS”) through a subsidiary managed by OMERS Capital Partners (“OCP”) acquired Maxxam Analytics International Corporation (“Maxxam”). Maxxam is Canada’s largest privately owned analytical laboratory services network.
John Martin, Chairman of Maxxam’s Board of Directors, said “The acquisition of Maxxam by OMERS provides a good outcome for shareholders that fully reflects both the company’s current performance and its potential, while keeping Maxxam Canadian-owned.”
Jon Hantho, President and CEO of Maxxam said, “Maxxam has prospered under the stewardship of its founders and Callisto Capital, a leading mid-market Canadian private equity firm. In taking the company to its next phase of growth OCP will be an ideal partner for Maxxam. OCP’s financial strength, coupled with its patient, long-term investment approach, will provide a solid platform for the company’s continuing profitable growth. Like us, OCP sees many exciting opportunities to build the business.”
Paul G. Renaud, President and CEO of OCP said: “Maxxam is a great addition to our private equity portfolio. Not only is Maxxam a successful company in its own right, but its leadership in the growing, high-profile environmental, petroleum, food safety and DNA analytical services markets is the rationale for our investment. We are looking forward to working with management to continue to build on the success the company has realized to date. The acquisition is another excellent example of the type of transactions we are seeking to do as part of our investment strategy to become active owners of our investments.”
In addition to being the largest privately owned analytical laboratory network in Canada, the company is also the second largest in North America for environmental laboratory services. Maxxam handles more than 1.5 million samples annually, on which it conducts more than 8 million tests and records more than 24 million parameters. Maxxam maintains 30 laboratory and service centre locations throughout Canada, totaling approximately 500,000 square feet of laboratory space. Each of Maxxam’s operating facilities undergoes rigorous internal and independent assessments to maintain compliance with accreditation, client and regulatory requirements. Maxxam has approximately 1,500 employees, the majority of whom hold technical degrees.
About OMERS Capital Partners
OMERS Capital Partners manages the private equity activities of OMERS and today has in excess of $4 billion of investments under management. OCP’s investment strategy includes the active ownership of businesses in North America and Europe. Visit OCP’s web site at www.omerscapital.com.
OMERS is one of Canada’s largest pension plans, with more than $50 billion in assets invested around the globe in publicly-traded investments, real estate, infrastructure and private equity. It provides retirement benefits to over 380,000 current and former employees of more than 900 municipal governments, school boards, libraries, police and fire departments, children’s aid societies and other local agencies throughout Ontario. For further information, visit www.omers.com.