Bridgepoint looking to sell ERM stake
Bridgepoint is looking to sell its 57% stake in environmental consultancy provider Environmental Resources Management (ERM), according to reports.
It is believed that ERM has hired Goldman Sachs to advise on its strategic review. Reports suggest that the sale of a majority stake in the company is valued at $750m. ERM has grown strongly over the past decade as companies have been subject to stricter environmental legislation.
Bridgepoint acquired its stake in the company from 3i in 2005 following a €446m investment. ERM was formed in 1987 after a merger between a US and a UK consulting company. Headquartered in the UK, the company employs 3,600 people globally.
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