3i invests in environmental consultancy

Private equity firm 3i has invested £32.5m to acquire a minority stake in SLR Holdings, a UK-based environmental consultancy. 3i bought the stake from previous minority-backers ISIS Equity Partners. The deal valued the company at approximately £100m (US$195.7m).

3i’s investment has been accompanied by a £29m debt package supplied by Lloyds TSB Corporate Markets.

SLR operates from offices in the UK, US and Canada providing consultancy services to blue-chip customers including energy companies and waste management businesses.

ISIS backed SLR in 2004, since when the company has made several acquisitions including those of Insite Environments, a UK landscape architecture firm, and Seacor Environmental, a Canadian environmental consultancy, in 2007.

For the year ended October 2007, SLR reported revenues of £32.7m (up 36%, year on year) and EBITDA of £6.6m (up 47%, year on year).