Blackstone acquires London-based software provider Civica from Partners Group a global leader in public sector software solutions, from Partners Group, a leading global private markets firm, acting on behalf of its clients. Financial terms of the transaction were not disclosed.
Civica was founded in 2001 and has since grown into one of the UK’s largest software companies and a global leader in software for the public sector, providing mission-critical automating and streamlining technology services to clients that range from local to central and federal government, health and social care providers and education.
Its wide-ranging product portfolio includes workflow and automation, risk and compliance, workforce management, financial management, and data analytics and insights.
Civica has benefited from the strong growth of the Government Technology space, powered by the ongoing digitalization of the public sector and long-term investments made by governments to improve their technology capabilities and the services they offer to their constituents.
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Jonathan Murphy, a Managing Director at Blackstone and Miguel García Gómez, a Principal at Blackstone said, “Civica is a leader in the ‘GovTech’ space, with an excellent brand and an enviable market position and we are excited to be partnering with a stellar management team to help the business in this next phase of growth. This investment is a testament to our long-standing software experience, a significant focus area for the firm globally, and builds on our strong track record of investing here in the UK,”.
Lee Perkins, Chief Executive Officer at Civica said, “At Civica, our aspiration is to be a ‘GovTech’ champion, providing software that supports the needs of citizens and those that serve them. In partnership with Partners Group, we have significantly transformed our offering and increased growth momentum across cloud, digital enablement, software innovation, and data analytics. We have also cemented our position as an innovation leader. We now have over two decades of growth to build on and look forward to the next phase of our journey,”.
The transaction is expected to close in Q2 2024, subject to regulatory approvals. Blackstone was advised by Barclays as lead financial advisor and DC Advisory as secondary financial advisor.
Partners Group was advised by Clifford Chance and Arma Partners. Arma Partners acted as exclusive financial advisor to Civica and Management was advised by Travers Smith and Wyvern Partners.
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Their over $1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity.