KKR Is Said to Near $3 Billion Deal to Buy Consultancy ERM

KKR & Co is nearing a deal to acquire ERM Group Inc. from its Canadian owners in a deal that potentially values the sustainability consultancy at as much as $3 billion, according to people familiar with the matter.

The buyout firm is set to beat out rival bidders in a formal sale process for the company owned by Omers Private Equity and Alberta Investment Management Corp., the people said, asking not to be identified as the matter is private. A potential announcement could be made in coming days, the people said.

Representatives for Omers, Aimco and ERM couldn’t be immediately reached while KKR declined to comment. No final decision has been made and talks could still be delayed or fall apart, the people said.

ERM advises companies in industries from mining to manufacturing on the environmental and social impact of their operations. The potential sale of ERM comes at a time when the business world is paying ever-closer attention to sustainability issues amid pressure from investors. Omers and Aimco bought ERM in 2015 for $1.7 billion, including debt, from Charterhouse Capital Partners.

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