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Bridgepoint Sells ERM Stake

Bridgepoint has sold a majority stake in Environmental Resource Management to Charterhouse.

Bridgepoint has sold a majority stake in Environmental Resource Management (ERM) to Charterhouse, Reuters reports. The deal values the environmental consultancy at about $950 million.

Charterhouse is taking a 65% holding in ERM by backing a management buyout from the seller. Bridgepoint Capital had purchased its stake in ERM from 3i Group in 2005 for $535 million, adds Bloomberg.

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