OMERS Private Equity and the Alberta Investment Management Corporation signed an agreement to sell their stake in the London-based sustainability consultancy to private equity firm KKR. (The Logic)
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OMERS Private Equity and the Alberta Investment Management Corporation signed an agreement to sell their stake in the London-based sustainability consultancy to private equity firm KKR. (The Logic)
Talking point: The deal comes as businesses around the world are under increasing investor pressure to pay attention to green issues. OMERS owned more than 40 per cent and AIMCo less than 20 per cent of Environmental Resources Management. Both invested in 2015, and since then, ERM has acquired 14 businesses during OMERS and AIMCo’s investment period. A source told Reuters the sale puts ERM’s enterprise value at US$2.85 billion. The transaction should close in the third quarter of this year and financial terms were not disclosed.
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