Environmental Resources Management (ERM), a world-leading environmental consultancy, announces that Charterhouse Capital Partners has completed the acquisition of a majority stake in the company as part of a management buy-out from Bridgepoint. Under the transaction, which values ERM at US$950m (approx £585m), Charterhouse has acquired a stake in the region of 55 per cent. The remaining 45 per cent is owned by some 430 Partners working for ERM around the world. The agreement received the unanimous support of ERM Partners; under the transaction, ERM Partners, including the senior management team, reinvested approximately US$160 million in the company.
John Alexander, Group Chief Executive of ERM said: “We are delighted to confirm the completion of our refinancing with Charterhouse as majority shareholder. Charterhouse shares our vision and excitement for the future growth of the company. The level of reinvestment by the ERM Partners demonstrates confidence in our ability to continue to provide world-leading environmental and sustainability services to our clients worldwide. With the transaction now complete, we all look forward to building on our excellent performance over the last few years and expanding our business in a market with very strong growth fundamentals."
Stuart Simpson, a Founding and Senior Partner of Charterhouse said: ‘We look forward to working in partnership with ERM. We see this as a great opportunity to be involved in the sustainability consulting field. Market drivers such as increasing regulation, heightened commitment to corporate social responsibility, and competition for scarce resources, mean that this is an area where we see considerable growth potential.’
ERM’s structure, which has combined private equity backing with Partner ownership since 2001, means that the 430 ERM Partners both drive and share in the company’s success.
Notes to Editors
Environmental Resources Management (ERM) is a leading global provider of environmental, health, safety, risk, and social consulting services. It has over 140 offices in 39 countries and employs approximately 3,800 staff. Over the past five years ERM has worked for over 50 per cent of the Global Fortune 500. Clients include the Ford Motor Company, BP, Shell, Procter & Gamble and Anglo American.
About Charterhouse Capital Partners
Charterhouse Capital Partners leads and invests in large European buy-outs and has been doing so since the early days of the buy-out market in the 1980s.With over 128 transactions, worth an aggregate €38bn in transaction value, and with 89 per cent of those investments realised, the firm believes that its track record and experience combine to make it one of the most successful private equity firms in Europe.
Environmental Resources Management (ERM)
Kate Rogers: +44 20 3206 5200
Nick Cosgrove/ Andrew Garfield: Brunswick +44 20 7404 5959
Stuart Simpson: +44 20 7334 5300
James Murray: + 44 20 7432 3555 or +44 7802 259761.