SLR Consulting posts strong financial results, completes Charterhouse deal

29 June 2018 3 min. read

UK headquartered SLR Consulting has seen a boost in turnover of more than 4% in the last financial year. The firm was buoyed by an improving oil and gas market, as prices in the sector recovered from flagging demand.

Founded in 1994, international environmental consultancy SLR Consulting has grown consistently in recent years. Since its launch in Oxford, the UK-origin firm has opened offices across Europe, North America, Australasia, and Africa. In order to boost its headcount and revenues, the firm completed a succession of acquisitions in the last four years, including a deal for Challenge Energy. By 2016 the firm held over 70 global offices and boasted a headcount of around 1,100, reporting revenues of £112.6 million.

The environmental consulting market was knocked by sluggish oil and gas sectors, following a major dip in the value of the commodities. However, an improving picture on global economic growth and a more stable outlook in the oil and gas and mining sectors have helped underpin a return to a strong performance in the broader environmental consulting market, which saw a growth spurt of 6.3% push revenues to their highest-ever value of £1.7 billion in 2017. In line with this, SLR Consulting, a provider of environmental and advisory services with operations across the UK, has seen strong financial results for the past financial year.SLR Consulting posts strong financial resultsYear-end revenue from oil and gas, SLR's largest market sector, improved to the tune of 14%, with expanding opportunities in North America and increased confidence in Canada and Alaska. The group, which specialises in advising clients in the oil and gas, mining and minerals, infrastructure, industry, built environment, and power sectors, further reported that in the 53 weeks to November 2017, reported an increase of pre-exceptional EBITDA by 4.1% or £13.8 million. This saw turnover climb to a total of £129.6 million from £112.6 million in the previous year.

In a review within the accounts, SLR stated that the results were achieved from its existing operations rather than through acquired properties. However, the figures do include investments that "position the business for the medium-term growth opportunities."

SLR Consulting has since announced plans for new investment by private equity firm Charterhouse Capital Partners, in order to capitalise on its momentum. Charterhouse has replaced private equity firm 3i to becomes SLR’s main shareholder, with the management team and other staff retaining a significant stake in the business. The deal had been announced in March, but was subject to a conditional court approved scheme of arrangement and regulatory approvals.

Neil Penhall, SLR’s CEO, commented, “It’s great to be able to complete the investment process with Charterhouse. We can now focus on realising together the strategy and exciting growth plans we have for the business. The initial announcement has been very well received by SLR’s clients and staff and our plans for the future have also proved of significant interest to potential new staff and acquisitions looking to join SLR at this exciting time.”

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