The intention to sell was first announced in September 2025 but the transaction was subject to regulatory approvals, all of which have now been received.
The sale marks the third exit from WestBridge Fund II and delivers an 11.5x multiple to investors.
WestBridge backed the MBO of APEM Group in March 2019 and worked closely with the management team to deploy its value creation model and establish the company as a global leader in environmental consultancy.
During this period, revenues at APEM Group grew from £10m to over £100m, while EBITDA increased over tenfold.
Peter Barkley, partner at WestBridge, said:
“We worked closely with the management team to help transform APEM Group into a truly global business.
“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.
“It was an absolute pleasure working with the APEM team and extremely satisfying to play our part in the company’s success. This outstanding result was achieved through strong partnership and collaboration, and we are thankful to Leah, and the wider management team, as well as Dr Adrian Williams and Dr Stuart Clough, who led the MBO and drove the Group’s initial growth, for their efforts during our ownership.”
Guy Davies, WestBridge managing partner, said:
“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% fund for its vintage and the total gross money multiple in all WestBridge realised assets to 6.5x”.”
Leah McGimpsey, CEO at APEM Group, said:
“WestBridge has been a fantastic partner to APEM Group over the last six years since their investment. They have been instrumental in our Group’s success to date and setting us on our current growth trajectory and I’m thankful for their support and guidance.”