Clearwater International advises APEM Group on its refinancing to accelerate its ambitious growth strategy
Clearwater International has advised WestBridge-backed APEM Group, a global environmental consultancy, on its financing package from Tikehau Capital and Virgin Money.
Established in 1987, APEM Group is a world class environmental and geospatial consultancy, specialising in marine, freshwater, terrestrial ecology and geospatial data, providing its services for clients across Europe, the US, Australia and Asia.
The funding package includes €58m (£50m) of drawn and committed debt facilities as well as additional debt capacity through an accordion facility from Tikehau Capital. Virgin Money has also provided €9m (£7.5m) of working capital facilities. The combined funding will be used to support APEM’s ongoing organic growth and buy and build strategy.
Alongside securing the facilities, APEM Group has acquired Macro Works, a Dublin based provider of landscape and visual consultancy services. Macro Works has public and private sectors clients from a range of industries including renewables, infrastructure and commercial development. As well as landscape and visual impact assessments (LVIAs), the company produces photomontages, 3D visual simulations, glint and glare reports and landscape design.
This is the fourth acquisition APEM has made in the past two years and reinforces its position as a leading player in the global environmental consultancy sector.
APEM has gone from strength to strength since WestBridge supported a management buyout in March 2019, and has seen revenue increase from €12m (£10m) to forecast €70m (c.£60m) in the current financial year.