3i-backed Environmental Firm SLR Buys Alaska Hoefler For GBP5M

12th Jul 2010 14:54

LONDON (Dow Jones)--3i Group PLC (III.LN)-backed SLR Management Ltd. Monday said it has bought Alaska-based Hoefler Consulting Group in a deal worth around GBP5 million, as part of SLR's acquisition program to boost the environmental services it offers. Hoefler offers specialist permitting and air quality consulting services to clients in the energy and mining sectors, in particular in offshore drilling. Its pollution prevention and oil field regulatory services to the oil and gas industries and its expertise will be a major asset to SLR, which is already working with a number of major energy companies to review their spill contingency plans as a result of ongoing events in the Gulf of Mexico. SLR offers a variety of environmental consultancy services and has offices in the U.K., U.S. and Canada. SLR said it has a number of other potential acquisitions in the pipeline as it looks to expand internationally, as well as increasing its technical expertise ahead of a likely initial public offering in 2012. 3i bought a significant minority stake in SLR, investing some GBP32.5 million in a deal worth around GBP100 million in May 2008. -By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241; [email protected] (END) Dow Jones Newswires July 12, 2010 09:54 ET (13:54 GMT)