The financial terms of the transaction were not disclosed.

KKR will acquire the stake from OMERS Private Equity and Alberta Investment Management Corporation, with ERM’s management team and partners remaining as minority investors.

Founded 50 years ago, ERM has built technical expertise in environmental health, safety, risk and social matters, and has more than 5,500 consultants, including 580 partners, across 150 offices in over 40 countries. 

ERM partners will continue to be shareholders in the business. KKR’s investment is being made through its Core Investments strategy, which represents capital targeting longer-term opportunities. KKR is a long-standing client of ERM’s consulting services, KKR said. 

The transaction is expected to close in the third quarter 2021, subject to regulatory approvals and other customary closing conditions.