Tue, 10 Feb 2026 | BUSINESS SALE
Private equity firm WestBridge has completed the sale of environmental consultancy APEM Group in a deal that delivers an 11.5x return to investors. The sale of APEM Group to Applus+, first announced in September 2025, has now been completed after all regulatory approvals were received.
WestBridge initially backed APEM Group’s management buyout (MBO) in March 2019, subsequently working alongside the group’s management team to deploy its value creation model and establish it as a global leader in environmental consultancy. The sale is the third exit from WestBridge Fund II.
With WestBridge’s backing, APEM Group has completed nine strategic acquisitions and increased its revenues from £10 million to more than £100 million, while increasing EBITDA over tenfold.
Peter Barkley, partner at WestBridge, said: "Alongside nine strategic acquisitions, we have refinanced the company and supported organic growth through the introduction of a wider service offering into new markets internationally. All of this has established APEM Group as a leader in its sector and provided a platform for even further growth.”
WestBridge Managing Partner Guy Davies added: "This transaction perfectly demonstrates how our partnership approach to investing creates value in fast growing niche companies. Everyone at WestBridge has thoroughly enjoyed working with the APEM Group team and we wish them continued success.”
"This exit, at an 11.5x return, will take our overall fund DPI to 1.4x, maintaining WestBridge II’s independently benchmarked performance as a top 5 per cent fund for its vintage and the total gross money multiple in all WestBridge realised assets to 6.5x."
APEM Group Chief Executive Leah McGimpsey said that WestBridge had been “instrumental in our Group’s success to date and setting us on our current growth trajectory”.
The sale also marks the launch of a new Environmental Services Division led by Leah McGimpsey, who becomes executive vice president of the new division.
Consulting is one of the major trends in environmental services M&A
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