Environmental consultancy completes fourth acquisition

Private equity backed environmental consultancy APEM Group has made a fourth acquisition, snapping up 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. The amount paid was not disclosed.

Since receiving private equity investment from WestBridge in 2019, APEM has seen its revenue grow from £10m to a forecast c.£60m in the current financial year, employing 540 people across five divisions.

Based in Stockport, APEM started out as a small niche consultancy in 1987 and has grown to a global environmental consultancy, working for clients across Europe, the US, Australia, and Asia, with offices in the UK, Ireland and the United States.

In 2021 APEM acquired Woodrow, an environmental and sustainability consultancy based in County Sligo, Ireland and in February 2022 bought AQUAFACT, then GoBe Consultants. 

APEM’s chief strategy officer, Leah McGimpsey, said a £50m funding package has given the business additional debt capacity through an accordion facility from Tikehau Capital, with an additional £7.5m working capital facility from Virgin Money to accelerate its ambitious growth strategy.

“Demand for end-to-end environmental consultancy continues to grow and we are leading the way by constantly evolving our offering, enabling us to be a greater partner to our clients, people and the communities across which we operate,” she said.

APEM Group chief executive officer, Dr Adrian Williams, said: “We have first-hand experience of the excellent work produced by the team at Macro Works. Their areas of expertise perfectly complement our growing range of highly specialised services and I look forward to seeing the fantastic achievements we can deliver together.”

Richard Barker, director and landscape architect at Macro Works, said: “We have been aware of APEM for many years and have always held it in high esteem for the type and quality of work it produces.  We are delighted to be joining a team of like-minded individuals who share our values and whose culture is aligned with our own.

“It’s very much business as usual for our loyal customers who will now be able to access a wider pool of expertise and services.

“Similarly, our own employees will benefit from the enhanced training and development opportunities that come with being part of a larger group.”

Rebecca Sinclair, investment manager at WestBridge, said: “APEM is a fantastic business that continues to go from strength to strength.  It has earned its position as a leading player in the global market, providing vital work, and we look forward to supporting the management team as it pursues further growth opportunities.”

Advisers to APEM on the acquisition of Macro Works:

• DSW Corporate Finance – corporate finance advisory services
• DSW Transaction Services – financial due diligence
• Capital Law – legal counsel
• Ogier Leman – Irish law advices and legal due diligence
• BDO Ireland – tax due diligence
• CIL – commercial due diligence
• Pinsent Masons – legal counsel
• RSM UK Corporate Finance – financial due diligence
• Parisi Tax – tax covenants