Paul, Weiss Advises KKR on Majority Stake Buy in ERM Consultancy

Paul, Weiss said it advised KKR & Co. Inc. on its agreement to acquire a controlling stake in U.K.-based consultancy ERM Group Inc.

The private equity firm is acquiring its stake in from Canada-based OMERS Private Equity and Alberta Investment Management Corp., which invested in ERM in 2015. Allen & Overy and Ropes & Gray advised Alberta Investment Management.

ERM’s current management team and partners will remain minority investors, according to a statement. No financial terms were disclosed for the transaction, expected to close in the third quarter. Bloomberg News, citing people familiar with the matter, reported the deal values ERM at about $2.7 billion, including debt.

ERM says its over 5,500 partners and employees across over 150 offices in more than 40 countries advise on challenges in environmental health, safety, risk and social matters. Its clients include companies in mining, power, chemical, pharmaceutical and other sectors.

“This long-term partnership with KKR will allow us to expand and accelerate our client impact, and bring new capabilities and technologies to the business of sustainability,” said ERM CEO Keryn James.