Ashurst, Dickson Minto, Weil secure £579m ERM purchase

Ashurst, Dickson Minto and Weil Gotshal & Manges all landed roles on Charterhouse Capital Partners’ $950m (£579m) acquisition of Environmental Resources Management (ERM) from Bridgepoint Capital.

ERM is one of the world’s largest environmental consultancies
ERM is one of the world’s largest environmental consultancies

Charterhouse acquired around 65 per cent of the shares in ERM, which is one of the world’s largest environmental consultancies, as part of a management buyout, with the remainder being held by ERM’s 440 partners. The private equity deal was effected by way of a UK-court sanctioned scheme of arrangement.

Dickson Minto advised purchaser Charterhouse, with finance partner Michael Barron leading.

Ashurst advised a syndicate of eight senior lenders in relation to debt facilities provided in connection with the deal. The group comprised Ares Capital, Bank of America, BNP Paribas, Credit Agricole Corporate and Investment Bank, Goldman Sachs, HSBC, Mizuho and Royal Bank of Canada.

The Ashurst team was led by fin­ance partners Mark Vickers and Martyn Rogers, and included senior associate Martin Roseveare and associates Hugh O’Sullivan, Sophia Yeung and Michael Chance.

Senior associates Nick Gardner and Alex Lewis advised on tax and corp­orate issues respectively.

The deal saw input from a number of Ashurst’s international offices, with New York finance partner ­Damian Ridealgh, Germany finance partner Bernd Egbers and Hong Kong ­senior associate Navdeep Benning all involved on the deal. Ashurst also instructed Blake Dawson senior associate Kenneth Tang and Nauta Dutilh partner David Vietor to provide Australian and Dutch law advice respectively.

Ashurst has experience with ERM. The firm advised on the sale of the company to 3i in 2001 and on its sale to Bridgepoint in 2005, both times advising the banks.
Weil too has been involved in transactions with ERM before. The firm advised longstanding client Bridgepoint when it acquired its majority stake in ERM from 3i in 2005. This time Weil advised ERM and Bridgepoint on the sell side.

Weil’s London team was led by corporate partners Mark Soundy and Peter King. Tax partner Sarah Priestley and corporate associate John Newton
also assisted.