Title: SLR Successfully Raises $23M in Acquisition Finance
SLR Management Limited (SLR), the international environmental consultancy, is pleased to announce it has successfully raised a further $23M in acquisition finance to continue its international expansion. Combined with internal funding this will enable SLR to acquire environmental consulting businesses with an aggregate enterprise value up to $80M.
Over the past five years SLR has successfully completed the acquisition of 12 businesses in Australia, Canada, Europe, Namibia, South Africa and the US to augment its strong organic growth. This strategy remains unchanged and SLR will continue to target high-quality consulting firms in growth regions and market sectors, particularly in energy and natural resources.
David Richards, CEO of SLR, said: “We are very pleased to continue our long-term relationship with Lloyds, who in combination with HSBC have provided the new facility. In these difficult times, the fact that we were able to raise a significant acquisition fund confirms both the success of our international growth strategy, which has allowed SLR to grow at a compound annual rate of 25 per cent for the last five years, and the appeal that this record provides to potential funders in what was a highly competitive process.”
As noted by Kevin Rattue, Director of SLR’s North America operations, “Expansion of our financing facility supports our strategy to continue to carefully broaden and diversify our geographic and technical service offerings in core business sectors through organic growth and acquisitions. In North America, SLR has 360 employees located in 28 offices and we are well positioned to enjoy much success going forward.”
SLR is a leading international environmental consultancy which advises on a wide range of strategic and site-specific environmental issues to a diverse client base spanning land developers, global natural resources, corporates, and local and central government bodies. The employee-owned company has over 900 members of staff across 60 offices predominantly in the UK, North America, South Africa and Australia.
Posted: July 13, 2012