EnviroSuite, a provider of environmental management software solutions for the mining industry, plans to sell its Pacific Environment Consulting (PEC) practice to global environmental firm, Environmental Resources Management (ERM), for $15 million.
The transaction involves the sale of shares in the three EnviroSuite’s subsidiaries that together form the PEC practice.
A completed deal would see the two companies collaborate to bring a combination of EnviroSuite’s SaaS software platform and ERM’s consulting capabilities to global clients.
All PEC staff will transfer to ERM once the subsidiaries have been acquired, while the remaining EnviroSuite team will focus entirely on the global expansion of its software service and future development.
EnviroSuite managing director Robin Ormerod described the agreement as a transformational deal.
“For EnviroSuite, working with the global leader in environmental management is an exceptional distribution opportunity and one that we expect will be a game changer for our business globally,” Ormerod said.
Completion of the deal is expected by early June 2017. The transaction is subject to various conditions, including there being no material adverse change affecting PEC before the transaction is completed.
ERM chief executive officer Keryn James said EnviroSuite, and the PEC practice, has a strong reputation for professional excellence and client service.
“We have pursued this acquisition with great enthusiasm and we are confident that it will provide an opportunity to expand our respective offerings to existing clients, as well as a stronger capability and track record for us to pursue new clients in key markets together,” James said.