Advising WestBridge-backed APEM on its acquisition of Macro Works

Dublin-based Macro Works has become APEM’s fourth acquisition in two years as APEM secures an £82m debt refinancing package and additional £7.5m working capital facility. Capital Law advised on all four deals, which are part of APEM’s ambitious growth strategy.

APEM, the leading Manchester-headquartered environmental consultancy, continues to expand its offering through its acquisition of Ireland-based provider of landscape and visual consultancy services, Macro Works.

Working with public and private sector clients in a range of industries including renewables, infrastructure and commercial development, Macro Works produces landscape and visual impact assessments (LVIAs), photomontages, 3D visual simulations, glint and glare reports, and landscape design.

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.

APEM Group chief executive Dr Adrian Williams added:

We have first-hand experience of the excellent work produced by the team at Macro Works and are absolutely delighted to welcome them as part of the team. 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.

APEM Group chief strategy officer, Leah McGimpsey, said:

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. A key pillar of our growth strategy has been our recent acquisitions and the support of our partners like Capital Law, who have provided legal counsel to the APEM Leadership Team throughout the acquisition process, has been instrumental in a successful outcome for our Group.

Following WestBridge’s support of a management buyout in March 2019, APEM has continued to bolster its portfolio, with revenue increasing from £10m to a current financial year forecast of around £60m. Having advised WestBridge for over 12 years, the team at Capital are delighted to see their continued success. Sarah Hale, Tom Kelleher, Gareth Williams-Davies and Alex Prothero from Capital’s corporate team advised APEM on the deal, with support from Ogier Leman LLP providing Irish law advice.

Tom Kelleher, who leads Capital’s Corporate & Private Equity team, said:

Since WestBridge’s original investment in APEM back in 2019, the business has achieved major growth, both in terms of revenue, reputation and service offering, driven by an exceptional management team. Working with the APEM team is always a pleasure as they have a very clear focus on delivering for the clients in a sector that matters to us all.