The second UK headquartered company OMERS and AIMCo have acquired from a private equity owner in an off-market, bi-lateral process.
Allen & Overy is advising OMERS Private Equity, the private equity investment arm of the OMERS pension plan, on its USD 1.7 billion acquisition of Environmental Resources Management (ERM), a leading global provider of environmental, health, safety, risk, social consulting and sustainability related services, from Charterhouse Capital Partners. Allen & Overy is also advising Alberta Investment Management Corporation, the investment management arm of the Alberta pension scheme, which is co-investing alongside OMERS.
The transaction will see approximately 600 partners in ERM including senior management reinvesting into the business, making this a substantial transaction in terms of both value and complexity. Allen & Overy utilised its extensive global network to advise on securities, regulatory and other issues in multiple jurisdictions.
Gordon Milne, who led the transaction, commented: "ERM’s proven track record and strong growth trajectory, underpinned by a world-class management team, make this an exemplary strategic acquisition for OMERS and AIMCo. The off market, bi-lateral nature of the transaction demonstrates the evolution of the approach being taken by Canadian pension funds in Europe and the competition that they are providing for traditional private equity funds.”
This is the second major acquisition from private equity sellers where Allen & Overy has advised OMERS and AIMCo in the past two years. Allen & Overy also advised OMERS and AIMCo on their acquisition of Vue Entertainment International from Doughty Hanson in 2013 for GBP 935m.
The Allen & Overy team is being led out of London by Corporate partner Gordon Milne with assistance from Senior Associates Peter Banks and Brodie Same. Corporate partner Stephen Lloyd is assisting on the equity arrangements, Banking partner Jonathan Brownson is advising on the debt financing and Antitrust partner Alasdair Balfour is providing advice on merger filings.
