We have advised SLR Consulting (SLR), a leading global environment and advisory consultancy, on its investment from Charterhouse Capital Partners (Charterhouse), providing an exit for minority investor 3i.
SLR provides global environmental and advisory services from a network of offices in Europe, North America, Asia-Pacific and Africa. It specialises in advising clients in the oil and gas, mining and minerals, infrastructure, industry, built environment, and power sectors. It has over 1,100 employees based in 70 offices around the world. Under 3i’s ownership, SLR has completed 18 acquisitions, enabling the business to expand globally and reinforce its position as a leader in environmental consulting and advisory specialisms.
We had tracked the business for some time and were appointed due to our track record of delivering complex deals in people-based assets.
What difference did we make?
This was a large, complex deal and we achieved a successful outcome because of our detailed understanding of the business and by combining our M&A and Debt Advisory teams to provide one seamless solution for our client.
SLR is a complex business. Operationally, it is active in five continents, six sectors and over 30 technical service lines, and the modelling undertaken for the transaction had to incorporate multiple planned acquisitions. In addition, the shareholder base is large and based in some ten countries, and we used a series of presentations to them to ensure country-specific legal and regulatory requirements were met.
We worked with 3i and the management team to understand what they wanted to get out of a deal. Our advice helped management decide that partnering with PE again would achieve their objectives. SLR generated strong interest from several houses including Charterhouse, which had previously backed the largest player in the market and understood the sector. We also advised management on their deal with Charterhouse; advising both management and 3i helped create a cohesive process, ensuring both parties were focused on the deal.
The new investment will help drive SLR’s ambitious plans for growth. The company has a pipeline of M&A opportunities and our debt advisory team raised the acquisition finance from a five-strong lender club comprising banks and credit funds, establishing facilities on very competitive terms to fund both immediate deals and the longer term buy and build strategy.