3i’s SLR acquires CCA Environmental
3i-backed environmental consultancy SLR Management has acquired Cape Town-based CCA Environmental.
SLR stated that the purchase would enhance its African client base, providing it with access to new growth markets in South Africa, Namibia and Mauritius.
In mid-2012, SLR raised £50m to finance acquisition opportunities, with debt provided by Lloyds. The acquisition of CCA is the company's fifth bolt-on via the funding, following February's purchase of US- and Canada-based HFP Acoustical Consultants. Since 2012, SLR has bought Australia-based GSS Environmental, Synergistics Environmental Services in Africa and Strategic Engineering and Sciences in the US.
3i acquired its minority stake in SLR from Isis Equity Partners for £32.5m in May 2008. The company was valued at £100m at the time.
Headquartered in the UK, 1,000-strong SLR operates offices in Australia, Canada, Ireland, Namibia, Singapore, South Africa, the UK and the US.
Founded in 2004, CCA Environmental is an environmental impact assessment consultant to the international oil and gas industry and South African linear infrastructure sector. It focuses primarily on project managing environmental management plans and permitting for new offshore oil and gas fields for clients including Shell, Total, Exxon, Anadarko, Tullow and Cairn.
CCA's turnover was approximately £1m in the last financial year and it has 13 employees.
Neil Penhall is chief executive of SLR. Jonathan Crowther is managing director of CCA.
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