KKR buys majority stake in UK ESG consultancy ERM
The US private equity firm KKR has agreed to acquire a majority stake in …
The US private equity company KKR has agreed to acquire a majority stake in the British sustainability-oriented management consultancy Environmental Resources Management (ERM).
Ropes & Gray and Allen & Overy acted as legal advisor to Environmental Resources Management (ERM) on the transaction.
KKR has agreed to acquire a majority stake in ERM from OMERS Private Equity and Alberta Investment Management Corporation, which became majority shareholders in 2015.
Upon completion of the transaction, which is expected to occur in the third quarter of this year after customary closing conditions and regulatory approvals have been met, ERM’s partners and management team will retain a minority stake in ERM.
The ERM, which focuses on the implementation of environmental, social and governance (ESG) initiatives, sustainability measures and other environmental, health, safety and risk issues, offers its services to clients who design and implement their ESG goals Want to improve sustainability issues.
“This long-term partnership with KKR will enable us to expand and accelerate the impact of our customers and bring new skills and technologies to the sustainability business,” said Keryn James, CEO of ERM, in a statement.
The KKR partners Mattia Caprioli, Tim Franks and Ken Mehlman, Managing Director Franziska Kayser and Director Rami Bibi said in a joint statement: “Real expertise in sustainability and environmental issues is more important than ever. We are proud to invest in an organization like ERM and its partners as these organizations continue to support organizations in implementing ESG management best practices in their operations. “
Jonathan Mussellwhite, Senior Managing Director and Head of OMERS European Private Equity, stated: “The sale of ERM marks OMERS Private Equity’s fourth realization in Europe and our fifth successful global exit in the last three years. Every sale has resulted in strong income and supported OMERS ‘core commitment to delivering sustainable, affordable and meaningful annuities to our members. “
James Frankish, Director of OMERS, emphasized ERM’s expansion “into new focus sectors such as energy, chemistry and technology, and media and telecommunications” since OMERS first invested in the company in 2015, adding, “ERM also has its leadership position in With regard to sustainability and the climate of companies, change is strengthened. “
Ropes & Gray, co-advisor to ERM and its partners, deployed a team led by private equity transaction partner John Newton, led by London-based private equity transaction partner Will Rosen, advisor Shona Ha, and five Supported staff, Craig Jourdan, Natalie Eliades, Victoria Srivastava, Moose Sarfraz and Kumbi Abere.
Allen & Overy, co-counsel for ERM and its institutional shareholders and OMERS and Alberta, deployed a team of lawyers led by private equity partner Gordon Milne, led by London-based senior associates Grace Harvey and Chris Sabine was supported by employee Jenny Paramonova.
In March, KKR hired Bryan Cave Leighton Paisner to sell five UK student apartments for £ 291 million.
