June 17, 2015 (London) – Global law firm Proskauer has advised Environmental Resources Management (ERM), the world’s largest environmental and sustainability consultancy, in relation to the sale to OMERS Private Equity OPE, the private equity investment arm of the OMERS pension plan, in a deal worth $1.7 billion. The Alberta Investment Management Corporation (AIMCo) will co-invest with OPE. Proskauer teams in London and the United States advised the shareholders of ERM comprising Charterhouse Capital Partners and the partners of ERM together with Dickson Minto.
ERM is a leading global provider of environmental, health, safety, risk, social consulting and sustainability related services. ERM works with both private and public sector clients to deliver sustainable outcomes to complex environmental issues. ERM has more than 4,800 employees including more than 600 partners and operates from 163 offices in 42 countries. ERM’s client base includes 60 percent of the Global Fortune 500. In recent years, it has advised on the environmental and social issues of some of the largest and most complex development projects in the world.
“ERM has a stellar reputation and a history of outstanding performance. The acquisition by OMERS Private Equity, alongside ERM’s senior management and partners is an endorsement of the strong partnership culture and intellectual talent that the company has attracted and maintained throughout its substantial growth in the U.S., Europe and emerging markets,” comments Proskauer partner Steven Davis. “We are proud to have worked with ERM as it has grown to be the market leader in this sector. Its acquisition by OPE is an important next step in the company’s development as it looks towards further expansion.”
Charterhouse acquired a majority interest in the company in 2011, with the remainder of ERM being owned by partners in the firm.
The transaction will see 600 partners in ERM, including senior management, make a substantial re-investment into the business alongside OPE and AIMCo.
OPE and AIMCo will support management to develop the business, both organically by further increasing market share through offering innovative new services in expanding international markets, and alsoby strategic acquisitions in what remains a large, but fragmented sector.
Mr. Davis has a longstanding relationship with ERM, having advised on the 2011 acquisition by Charterhouse as well as previous investments in the business by Bridgepoint and 3i. Mr. Davis led the deal with a global team, which included Julie Allen, Liam Arthur, Cathy Stewart, Lauren Bretton and Elizabeth Monteleone (Corporate); Robert Gaut, Anne Kim, Colleen Hart, Greg Branagan and Gary Tashjian (Tax); and John Ingrassia (Antitrust).
John Alexander, CEO of ERM for the last two of the above transactions, commented that “ERM was delighted with the highly practicable and commercial advice and support they received from Steven Davis and the team at Proskauer; this enabled the transaction to proceed to signing quickly on terms that were acceptable to all parties, including the management team that owns some 45% of the company.”