PE-backed environmental consultancy makes fourth acquisition
Wed, 14 Jun 2023 | BUSINESS SALE
APEM Group, an environmental consultancy backed by private equity firm WestBridge, has completed its fourth acquisition in two years with a deal for Dublin-based landscape and visual consultancy services firm Macro Works.
The target company serves clients from both the public and private sectors, covering industries including renewables, commercial development and infrastructure. The firm produces 3D visual simulations, landscape design, landscape and visual impact assessments (LVIAs), photomontages and glint and glare reports.
APEM Group was backed by WestBridge in 2019 and, since that time, has increased its revenue from £10 million to a forecast £60 million for the current financial year. The Stockport-based firm, which was previously a niche operator, is now a global environmental consultancy, with a presence in the UK, US and Ireland and with clients from across Europe, Asia, the US and Australia.
The company’s private equity-backed growth has also incorporated a significant degree of M&A activity, with the firm acquiring County Sligo-based environmental and sustainability consultancy Woodrow in 2021, before acquiring AQUAFACT and GoBe Consultants in 2022.
The firm’s growth strategy has also been backed by an additional £7.5 million working capital facility provided by Virgin Money, while it has recently announced a £50 million funding package providing additional debt capacity via an accordion facility from Tikehau Capital.
Commenting on APEM’s growth, Chief Strategy Officer Leah McGimpsey (pictured above with Macro Works' Richard Barker Darroch Baker) commented that “Demand for end-to-end environmental consultancy continues to grow,” adding that the company was "constantly evolving our offering” in order provide better services to its clients.
APEM Group CEO Dr Adrian Williams said that Macro Works’ “areas of expertise perfectly complement our growing range of highly specialised services”.
WestBridge investment manager Rebecca Sinclair added that the firm would continue to support APEM’s management team as it seeks out future growth opportunities.
Read about how companies can boost their M&A strategies by incorporating ESG.
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