Robin Ormerod

Australian listed technology developer EnviroSuite (ASX:EVS) yesterday completed the sale of its entire consulting practice, Pacific Environment Consulting (PEC), to the world’s largest environmental consultant, Environmental Resource Management (ERM). The sale was finalised at AUD$15 million to refine the company’s offering and raise capital to fund the global expansion of its environmental monitoring solution.

The sale of PEC was undertaken by EnviroSuite primarily to raise capital for strengthening company fundamentals and fund EnviroSuite’s growing international business activities. Managing Director of EnviroSuite, Robin Ormerod, said in an announcement to the ASX this morning that the sale of PEC will help further the global reach of EnviroSuite’s technology.

“This is a transformational transaction for EnviroSuite as it becomes a focused, well-funded, global SaaS technology business,” said Ormerod.

“I would like to thank the staff of EnviroSuite, our legal advisers Addisons, and corporate advisers TMT Partners, for their assistance in the transaction. We look forward to working with ERM as one of our partners in the globalisation of the EnviroSuite platform.”

ERM is a leading global provider of environmental, health, safety, risk, social consulting services and sustainability related services. They have more than 160 offices in over 40 countries and territories employing more than 4,500 people working on global projects.

The sale of PEC to ERM involves a distribution partnership, greatly extending the reach of EnviroSuite’s technology. ERM will refer to EnviroSuite’s technology as a comprehensive environmental monitoring solution for mining and utilities companies, government institutions and environmental projects.

Pacific Environment believes that partnerships and M&A appetite in Australia, and globally, are on the rise and partnering with relevant and experienced off-shore companies should be a key strategy for any technology business looking to break into international markets.

“Partnering with recognised industry incumbents in targeted geographic regions is the primary route to market for EnviroSuite in new territories,” said Ormerod.

“We consider that leveraging well-established client networks as well as local knowledge and expertise is an expeditious route to market for the EnviroSuite as we pursue growth of the platform.”

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