TRC Acquires Environmental Business Unit From RMT

June 6, 2011 — Fusion DigiNet

TRC Companies has acquired the Environmental Business Unit of RMT, Inc., a subsidiary of Alliant Energy), for $13.3 million in an all-cash transaction.

Headquartered in Madison, Wisconsin, RMT’s Environmental Business Unit specializes in consulting, development, engineering and construction through remediation and restoration; environmental, health and safety management; air pollution control; and solid waste management offerings. The Environmental Business Unit, which consists of approximately 200 consultants and 10 primary locations, has projected net service revenue for 2011 of approximately $27 million.

“The acquisition of RMT’s Environmental Business Unit aligns perfectly with TRC’s growth strategy,” said TRC Chairman and Chief Executive Officer Chris Vincze. “Through this transaction, we add depth and capability to our service portfolio and significantly expand our presence throughout the Midwest, while strengthening our position in Texas. Also, RMT’s Environmental Business Unit provides us access to a deep and attractive roster of industrial clients, which allows substantial cross-selling opportunities.”

“For more than 30 years, RMT has been a recognized leader in environmental services. Beyond the geographic match, this acquisition represents a natural cultural fit for TRC, as RMT’s approach to client service and commitment to quality closely mirrors our own. The acquisition brings to TRC a talented group of industry professionals, and we welcome them to the TRC team. We look forward to a rapid integration, which we expect to be fully completed in the first quarter of fiscal 2012.”

RMT President Steve Johannsen said, “When we made the strategic decision to divest our Environmental Business Unit, we aimed to find a respected peer that would maintain our corporate heritage — strong customer relationships, a commitment to the environment and an employee-centric organization. As a result, we believe TRC is the ideal match. In an industry where expertise and reputation for quality are critical, TRC is a firm with a long and distinguished track record. We expect that this transition will be seamless and beneficial for both our customers and employees.”

USA, Lowell, MA & Madison, WI

 

 

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Bridgepoint exits ERM with sale to Charterhouse in $950 million transaction

May 30, 2011 — Fusion DigiNet

Charterhouse Capital Partners is to acquire a majority stake in  environmental consultancy Environmental Resources Management (ERM) as part of a management buy-out from Bridgepoint. Under the transaction, which values ERM at US$950m, Charterhouse will acquire a stake of approximately 65 per cent. The remainder of the shares will be held by ERM Partners whose approval is required for this transaction.

John Alexander, Group Chief Executive of ERM said: “We are pleased that Charterhouse shares our vision for the future growth of this company as we enter an exciting new stage of our development. ERM has completed an outstanding year, with Net Revenues up 12 per cent year on year to $483 million and EBITDA up 18 per cent to $76 million year on year. With the strong commitment both from our Partners, whom I believe to be the best in the field, and Charterhouse as a financial partner, we look forward to building on that performance and expanding our business in a market with very strong growth fundamentals.”

Stuart Simpson, a Founding and Senior Partner of Charterhouse said: ‘We have followed the progress of ERM with interest for a number of years. The company has grown to a size and leading market position that makes this the ideal time for Charterhouse to make an investment in the significant growth potential of this world-class business. We are excited to be working with John Alexander and the ERM team during this new phase of global expansion of ERM.

Chris Busby, Partner at Bridgepoint, added: “ERM is a first class business that has capitalised on the market driven opportunity arising from increased regulation, compliance and demand for natural resources and sustainability. It is strongly positioned for a great future.”

The transaction will see the 440 Partners in ERM (including the senior management team) make a substantial reinvestment in the business. The company’s structure, which has combined private equity backing with Partner ownership since 2001, means that the 440 ERM Partners both drive and share in the company’s success.

UK, London

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Thomson Reuters acquires Mastersaf

May 19, 2011 — Fusion DigiNet

Thomson Reuters has acquired Mastersaf, a provider of tax and accounting solutions for companies operating in Brazil. Terms of the deal were not disclosed.

Mastersaf offers a wide array of products and solutions including a tax and accounting compliance suite; E-invoicing software that facilitates digital registration and approval of invoices under Brazilian reporting regulations; and LegisCenter, an online information portal for tax rates and rules.

“The addition of Mastersaf is a key step in fulfilling our strategy to expand our professional services across Latin America,” said Gonzalo Lissarrague, president, Latin America for Thomson Reuters Professional Division. “We are pleased to welcome their exceptional management and staff to the Thomson Reuters family. Mastersaf also brings a highly valued and successful distribution network.”

In June DigiNet reported Thomson Reuters had acquired Revista dos Tribunais, also in Brazil.

Mastersaf’s LegisCenter information sets will be integrated into Revista dos Tribunais and Checkpoint.

USA, New York, NY & Brazil, Sao Paulo

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Energy and Environment – IBM is acquiring TRIRIGA

May 10, 2011 — Fusion DigiNet

IBM is acquiring TRIRIGA, a Las Vegas, Nevada-based provider of facility and real estate management software solutions. The move aims to accelerate IBM’s smarter buildings initiatives by adding advanced intelligence that improves real estate performance, capital project management and the outcomes of sustainability initiatives. Financial terms were not disclosed.

TRIRIGA software helps clients make strategic decisions regarding space usage, evaluate alternative real estate initiatives, generate higher returns from capital projects, and assess environmental impact investments.

More than 200 clients and thousands of users, including over one-third of Fortune 100 corporations across every major industry, as well as seven of the 15 federal executive departments of the U.S. government, use TRIRIGA software to reduce operational costs, increase return on real estate assets and mitigate environmental regulatory risks.

“The combination of TRIRIGA and IBM smarter building solutions will deliver the industry’s most comprehensive capabilities that span the needs of all industries for managing facilities and real estate portfolios,” said Florence Hudson, energy and environment executive, IBM.  “Having one view of building operations worldwide will be a powerful tool to help organizations control and optimize their second-largest corporate expense — property.”

USA, Armonk, NY

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UK Buyout market registers strongest quarter in two years

April 8, 2011 — Fusion DigiNet

Data from Lyceum Capital and Cass Business School’s UK Growth Buyout Dashboard shows that 23 smaller private equity buyouts worth an aggregate £828 million* completed between 1 January and 31 March 2011 – the highest volume and value seen in any single quarter during the past two years.

This quarterly trend analysis of private equity transactions in the £10 million to £100 million segment highlights a continuing upward trend and represents a strong start to the year.

The report’s authors say the figures reflect growing confidence and appetite amongst investors to support businesses which, having proven their resilience during the downturn, and are now well placed to harness emerging growth opportunities.

Number of investments

Whilst 11 transactions in the £10-25 million value range make up 48% of all mid-market ativity, the 12 deals completed in the £26-100 million range was a higher volume than has been seen any quarter during the previous two years .

Type of investments

Management buyouts (MBOs) continued to be the most prevalent transaction type in Q1 2011, accounting for 61% of all activity (14 of the 23 deals). However the data also illustrates that there has been a sharp rise in the number of secondary buyouts.

Eight SBOs completed – the highest volume of this type of deal in any quarter over the last two years and accounts for a third of all transations completed in Q1 2011.

The reports authors believe this rise was expected given the increased number of larger deals recorded and that the trend reflects the number of private equity houses continuing to rely on old-style intermediary-based deal sourcing, rather than research-led direct origination.

Only one public-to-private transaction was launched in the quarter, underlining the lack of appetite for de-listings within the mid-market.

This lack of interest is unlikely to improve given the recently announced proposals to change the Takeover Code.

Investments by industry

Technology, media, telecommunications (TMT) businesses attracted the most private equity investment in the quarter, with the seven deals completed in the sector accounting for 30% of all deals in Q1 2011.

This is a sharp rise in activity from previous quarters (Q4 2010: 3, Q3 2010: 2), continuing an underlying trend which saw the annual number of deals involving TMT businesses nearly treble from four in 2009 to 11 in 2010.

The other sector showing increased activity is retail and consumer, in which more deals were transacted (four) than in any other quarter over the past two years.

Trade, IPO and Secondary Exits

The first quarter of 2011 has seen the number of exits from private equity investments remain relatively steady with 11 deals completing in Q1 compared to an average of 10 over the previous four quarters.

Whilst trade dominated the buyer pool throughout 2009 and 2010, the first quarter of 2011 has seen this trend reverse, with the majority of exits (73%) being provided by eight secondary buyouts.

With just four exits through trade buyers, Q1 2011 has seen the lowest level of trade activity registered since Q4 2009.

The reports authors suggest that this trend reflects an increasing number of sponsors returning to market following the downturn looking to quickly deploy capital in mature private-equity backed assets.

Commentary

Commenting on the report, Andrew Aylwin, Partner at Lyceum Capital, said: “Optimism or pressure to invest? Whatever the reason, activity was up again in Q1. If this trend continues, we may see a hundred new deals this year, up from 68 last year and just 35 in 2009.

“But with prices on the rise, managers in the lower mid-market are working hard to understand investment risk, with deal processes drawn-out as a consequence.

“It’s too early to tell whether 2011 will yield a good vintage, but the market is clearly testing investment selection today with value-adding skills in the spotlight next.”

Scot Moeller, Professor in the Practice of Finance at Cass Business School, said: “It is notable that the first quarter’s activity in this lower middle market has been broader based than last year in terms of both industry sectors and size of deal.

“When combined with the consistently higher deal flow since early 2009, this should be a good indicator of continued strong deal flow in the next several quarters although the market is clearly still at a point where participants expect surprises.

“Particular strengths are currently in the technology sector, including software, as businesses gear up with the continuing improved outlook for the economy; these two sectors should continue to see increasing activity in 2011.”

For more information go to the The Cass/Lyceum Capital UK Growth Buyout Dashboard

*All figures for aggregate enterprise value of private equity investments are based on confirmed values from Experian’s CorpFin database and additional estimations by Lyceum Capital and Cass Business School where undisclosed.

Posted in B2B Services, Broadcasting, Conference/Exhibitions/Events, Consultancy, Content Media, e-Commerce, Energy & Environmental Services, Games, Internet Media, Market Data & Information, Marketing/Advertising, Mobile Apps, Publishers, Research Reports, ~Europe. Leave a Comment »

Balfour Beatty WorkPlace acquires energy consultancy Power Efficiency for up to £18 million

April 7, 2011 — Fusion DigiNet

Balfour Beatty, the international infrastructure group, announces today that Balfour Beatty WorkPlace has acquired Power Efficiency, the energy procurement and carbon strategy consultancy, for a cash consideration of up to £18 million.

Power Efficiency, which is an employee-owned firm, is a leader in the energy management market, providing energy procurement, invoice validation, compliance and carbon reduction advisory services to a range of private sector customers.

Power Efficiency will be integrated with Balfour Beatty WorkPlace’s existing capabilities in energy management to create a leading energy services business with over 100 dedicated technical specialists and account managers. The acquisition marks an important development for Balfour Beatty WorkPlace, bringing together a powerful combination of M&E and energy capabilities to reduce customers’ energy spend and implement carbon reduction targets. It further strengthens its ability to maintain large complex portfolios, monitor consumption and deliver end-to-end energy and carbon management services, which is seen as a key requirement by many of Balfour Beatty WorkPlace’s existing customers.

Balfour Beatty Chief Executive, Ian Tyler, said: “Increasingly, providing our customers with advice and help to reduce their energy costs and carbon footprint is seen as an integral part of the service we offer them. This acquisition enables us to add additional skills and capabilities to our existing range of services and I am delighted that Power Efficiency’s management share our goal to build a leading energy services business.”

UK, London & Kent

 

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GMT Communications Partners acquires the Scandinavian Legal and Tax & Accounting Businesses of Thomson Reuters

April 7, 2011 — Fusion DigiNet

GMT Communications Partners, the European TMT- focused private equity group, is delighted to announce that it has agreed to acquire the legal and tax & accounting businesses of Thomson Reuters in Denmark and Sweden. Closing is expected to occur later this week. Financial terms were not disclosed.

The Scandinavian legal and tax & accounting business provides legislation, case law and regulatory information, and its products are renowned for their authority, industry expertise and innovative technology. These services enable decision-makers to make better decisions faster.

The business employs approximately 140 people across offices in Copenhagen, Stockholm and Aarhus. Key brands are KARNOV, PACTA and UfR, amongst others.

The business is well positioned in attractive niche markets of the professional information industry, occupying a strong market-leading position in Danish legal, tax and accounting professional information. It is the largest provider of online legal professional information in Sweden. Customers include law firms, corporates, government lawyers and law students, as well as accounting firms and corporate accountants.

The business has a strong subscription-based business model with high levels of recurring revenues and strong cash generation.

Following the closing, GMT plans to support a growth strategy based on both organic and acquisitive expansion in the Nordic region. GMT believes that the online-based business model, which is growing strongly and currently accounts for 60% of total revenues, also provides high operational leverage and scalability. Key executives, including Managing Director Neil Story, will remain with the business.

The deal is GMT’s 29th investment in Europe since its foundation in 1993, and cements the firm’s position as the leading mid-market TMT sector specialist fund in Europe.

Stefan Franssen, Partner at GMT, who will join the Board of the Company following the transaction, said:  “We are delighted to be working with Neil Story and the team. The Company has a very strong leadership position in its largest segment and has an attractive business model with recurring, subscription-based revenues. We look forward to helping this organisation realise its growth potential.”

Neil Story, Managing Director of the business, said:   “GMT’s clear expertise in the TMT space, particularly in helping content businesses grow through online-based growth strategies, will make them a great partner. We anticipate that with their active support in helping the business expand organically and through selective acquisitions, the business has the potential to grow rapidly. I look forward to continuing to work with our highly valued customers and suppliers and to delivering a continually improving service.”

Denmark, Copenhagen and Sweden, Stockholm

 

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Rely Energy, THG Energy & Technology Solutions to merge

April 5, 2011 — Fusion DigiNet

Energy management businesses Rely Energy and THG Energy & Technology Solutions, based in Tulsa and Fort Worth, respectively, are to merge. DigiNet understands that THG Energy & Technology Solutions is to be a subsidiary of Rely Energy. The combined business has 20 employees. Customers include universities, hospitals, municipalities and other governmental facilities, industrial companies, commercial office buildings, large churches, restaurants, hotels, and other retail facilities.

“The THG merger dramatically expands our combined energy management and service offerings and provides the scale and expertise to comprehensively manage the energy requirements of commercial, industrial, and governmental facilities of any size”

The new company will continue to operate under the existing names, Rely and THG, for the time being, said Dan Frey, president of Rely. “The THG merger dramatically expands our combined energy management and service offerings and provides the scale and expertise to comprehensively manage the energy requirements of commercial, industrial, and governmental facilities of any size,” he added.

Since its inception in 2010, Rely Energy has rapidly developed and deployed services and systems to help commercial energy users track, manage and reduce energy costs through implementation of best practices for energy management, purchasing and conservation. THG, which will become a subsidiary of Rely, has been similarly engaged in the Texas energy markets since 2004. THG has developed considerable expertise, grown an impressive client base, and developed proprietary management and reporting systems designed to offer energy management and procurement.

Mike Brasovan will remain in the Fort Worth office as president of THG. He will also join the Rely board of managers. Brasovan graduated from Texas A&M in 1993 with a B.S. in Mechanical Engineering with an emphasis on Energy Systems. Since that time, Brasovan has worked extensively with industrial, commercial, and municipal clients on implementing energy savings, developing comprehensive analysis and reporting systems, and managing energy purchasing programs.

According to Frey, Mike Brasovan brings significant engineering, operating, and procurement experience with a variety of energy-intensive customers and facilities. “By utilizing our expertise, along with the energy management systems and service offerings of the combined companies, Rely and THG will provide our clients with the full spectrum of services designed to achieve significant energy savings.”

USA, Tulsa, OK and Fort Worth, TX

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Schneider Electric acquires energy procurement and sustainability services business Summit Energy

March 25, 2011 — Fusion DigiNet

Schneider Electric is to acquire Kentucky based energy procurement and sustainability services business Summit Energy Services.

Summit Energy provides its clients with services including energy procurement, risk management, market intelligence, data management and sustainability consulting. It employs around 350 staff based in 11 international offices across North America and Europe and serves client. The business is expected to generate sales of approximately $65 million for the current year with an EBITA margin above the Schneider Electric average.

The total purchase price for the company is $268 million (~ € 190 million) on a debt-free cash-free basis, subject to certain adjustments. The completion of the transaction is subject to regulatoryapprovals and customary closing conditions. This acquisition is expected to be accretive on earnings per share from year 1 and to meet Schneider Electric’s Return on Capital Employed criteria in 2014.

According to Schneider Electric, Summit Energy will be an excellent complement to Schneider Electric’s demand-side capabilities in the fields of energy audits, energy monitoring and energy efficient solutions.

Chris Curtis, Schneider Electric’s Senior Executive Vice President, North America, commented: “The acquisition of Summit Energy allows Schneider Electric to broaden our energy management services and solution portfolio, offering customers the ability to manage and optimize their energy consumption from the supply side through the demand side, while also growing our energy and environmental online reporting capabilities.”

“By joining with Schneider Electric, we will be able to deliver Summit’s unique service offering to Schneider Electric customers,” said Steve Wilhite, Summit Energy’s President and CEO. “In recent years, we have invested heavily in people and technology to serve our clients. In combining our strengths with Schneider Electric’s resources, Summit Energy will be even better positioned to lead our clients to cost-effective and sustainable energy.”

Summit Energy and Schneider Electric have issued an Open Letter about the acquisition, as follows:

Today we are excited to announce that Summit Energy has agreed to be acquired by Schneider Electric.

This is an expansion and growth strategy for both companies:

Schneider Electric will benefit by expanding into the energy procurement and sustainability services space, broadening its energy management solution portfolio through the acquisition of a leader in this regard.

Summit Energy benefits from access to Schneider Electric’s global reach, technical capabilities and financial resources enabling continued expansion in terms of services and technology-related tools for our clients, as well as increased geographic growth opportunities.

As you may know, Schneider Electric is a global specialist in energy management with operations in more than 100 countries. Headquartered near Paris, France and with North American headquarters in Palatine, Illinois, Schneider Electric has been in operation for nearly 175 years and is widely recognized as the global specialist in energy management.

In recent years, Summit Energy has invested heavily in people and technology to serve its clients. In combining Summit Energy’s strengths with Schneider Electric’s knowledge and resources, we will be even better positioned to lead customers to cost-effective and sustainable energy.

This is a very positive step for both organizations. This partnership of two leaders will only serve to strengthen our service offering as well as provide customers with additional energy management related resources. We look forward to sharing more information with you on the new opportunity this acquisition presents in the near future.

Signed

Steve Wilhite, President and CEO, Summit Energy
Jeff Drees, US Country President, Schneider Electric

France, Rueil-Malmaison & USA, Kentucky

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Travelclick acquires travel and hospitality business intelligence firm Rubicon

March 18, 2011 — Fusion DigiNet

Travelclick has acquired Rubicon, a provider of competitive market intelligence to the travel and hospitality industry. Tim Hart, former CEO of Rubicon, will become Executive Vice President and head of Travelclick’s Business Intelligence division and will report to Larry Kutscher, CEO of Travelclick. germs of the deal were not disclosed.

Hotel chains work closely with Rubicon to leverage competitive pricing and forward-looking demand data to improve their pricing and revenue management processes.  With Rubicon as part of Travelclick, the company can provide the hospitality industry with a more complete business intelligence services.

“The combination of Travelclick and Rubicon enables us to do more for our hospitality clients, helping them to make better, more informed decisions,” said Larry Kutscher, CEO of Travelclick.  “By bringing together Rubicon’s strong relationships with major hotel chains and Travelclick’s established property-level relationships, we have created a unique and powerful offering. With Rubicon and its professionals as part of the Travelclick team, we are positioned for rapid growth and to serve our customers better than ever before.”

USA, New York, NY

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