The private equity arm of OMERS has signed an agreement to acquire U.K.-based Lifeways from August Equity for an undisclosed sum. Lifeways provides supported living services for adults with learning disabilities.
“Lifeways perfectly fits our investment criteria,” said Mark Redman, senior managing director and country head with OMERS Private Equity Europe. “It is a market leader in every respect with a proven track record of top-quality service and profitable growth both organic and via acquisitions, in a market with sound long-term growth fundamentals.”
This acquisition represents the third direct investment completed by the European private equity team, established in London in 2009 and led by Redman. In 2011, OMERS Private Equity led the $520-million buyout of shipping firm V.Group. In 2009, the firm invested in Haymarket Financial, a provider of credit financing to middle-market European businesses.