Alternative asset manager Blackstone has entered into a definitive agreement with private equity funds managed by its affiliates to acquire Civica, a provider of public sector software solutions, from Partners Group.
Established in 2001, Civica is one of the UK's largest software companies specialising in public sector software. The company's services include workflow automation, risk and compliance, workforce management, financial management and data analytics.
Civica has over 6,000 clients and serves over 100 million citizens in various regions, including the UK, Ireland, Australia, New Zealand, India, Singapore, the United States, and Canada.
The company has experienced growth in line with the increasing trend of digitalisation in the public sector and government investments in technology.
The acquisition is expected to be completed in the second quarter of 2024, subject to regulatory approvals.
Barclays and DC Advisory were the financial advisors for Blackstone, while Clifford Chance and Arma Partners advised Partners Group. Arma Partners, Travers Smith and Wyvern Partners advised Civica and its management.
The financial terms of the transaction have not been disclosed.
