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Bridgepoint Sells ERM For $950M

Private equity investor, Bridgepoint, has sold a 65% stake in its environmental consultancy, Environmental Resources Management.

Private equity investor, Bridgepoint, has sold a 65% stake in its environmental consultancy, Environmental Resources Management (ERM), The Wall Street Journal reports. Private equity investment firm, Charterhouse Capital Partners, has acquired the stake for about $950 million in cash.

The remaining 35% stake in ERM will be held by ERM partners, whose approval is required for the transaction. In 2005, Bridgepoint had acquired ERM for $535 million.

Click here for the story from The Wall Street Journal.

Click here for the additional coverage from Reuters.

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