Harris Williams & Co. Advises Logibec Inc. on its Pending Sale to GI Partners
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the pending sale of Logibec Inc. (Logibec), a portfolio company of OMERS Private Equity, to GI Partners. Logibec is a leading Canadian healthcare IT company. The pending transaction, which is subject to customary closing conditions and is expected to close in the first quarter of 2015, is being led by Jeff Bistrong, Sam Hendler and Dan Linsalata of Harris Williams & Co.’s Technology, Media & Telecom (TMT) Group and Bill Kayser of the firm’s Healthcare & Life Sciences (HCLS) Group.
“Logibec is poised to become the preeminent healthcare IT company across all Canadian provinces as it continues to enhance Canada’s most robust and comprehensive clinical and financial software solution,” said Jeff Bistrong, a managing director in Harris Williams & Co.’s TMT Group.
“Canadian healthcare market dynamics require greater coordination between providers and care settings than we currently see in the U.S. market,” said Sam Hendler, a director in Harris Williams & Co.’s TMT Group. “The development of Logibec’s solution suite provides some key insights into how U.S. vendors should manage their product strategy for the rapidly evolving accountable care market.”
Founded in 1982 and headquartered in Montreal, Quebec, Logibec provides a comprehensive suite of subscription-based software solutions to manage mission-critical administrative and clinical functions to hospitals and social service organizations across Canada. With over 30 years of dedication to the ever-evolving Canadian healthcare market and more than 300 professionals, the company is specialized in the development, marketing, implementation and support of clinical and administrative information systems. Logibec’s software and information systems meet the current and future needs of the health and social services sector across Canada.
OMERS Private Equity manages the private equity activities of OMERS, one of Canada's largest pension funds, and today has over U.S. $6 billion of investments under management. The group's investment strategy includes the active ownership of businesses in North America and Europe. OMERS Private Equity is headquartered in Toronto, Canada, with offices in New York and London.
Established in 2001 and headquartered in San Francisco, GI Partners is a leading private equity investment firm whose North American private equity team focuses on control-oriented, deep value investments in middle market businesses in North America. The team seeks to generate attractive risk-adjusted returns by targeting investments in companies that GI Partners believes provide significant downside protection as well as the opportunity for significant value creation post-investment through strategic and operational improvement.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.