Wragge & Co LLP Private Equity team has advised the shareholders and management of SLR Holdings (SLR) on a major investment by 3i. The investment will fund the next phase of environmental consultancy SLR's international expansion.

3i has invested £32.5 million for a significant minority stake in SLR, alongside £29 million in debt funding from Lloyds TSB Corporate Markets and current SLR shareholders. This investment values SLR at approximately £100 million. 3i replaces ISIS Equity Partners as minority shareholder in SLR.

Private equity partner Jeremy Millington led the Wragge & Co team, assisted by director Catherine Clarke and associate Natalie Singh. Head of transaction services Graham Spalding led the due diligence and tax partner Neil Pearson advised on share option matters. The team worked closely with David Richards, chief executive of SLR.

Jeremy Millington said: "Our dedicated private equity practice has in-depth knowledge of mid-market transactions and the commercial objectives of investors and management teams. This, combined with our established working relationship with SLR, made us the ideal choice for this important project. SLR has an excellent business and management team and is in good shape for its next phase of growth."

David Richards, chief executive of SLR said: "We have enjoyed working with Wragge & Co on this transaction. It makes an enormous difference to have top quality advisers who will give forthright and unqualified advice, and for management to have complete confidence in the drafting so they can focus on the commercial points."

SLR is an international environmental consultancy based in the UK, with revenues of £32.7 million in 2007. Over 650 employees work from offices in the UK and North America, serving a broad base of blue-chip customers in the energy, waste management, planning and development, manufacturing, mining and financial sectors. It is an employee-controlled consultancy, with over 220 employee shareholders.

3i is a private equity FTSE 100 company with a total of €12.3 billion assets under management, including over €4 billion in managed funds. It has offices in 14 countries across Europe, Asia and the US, with over 750 employees, including 250 investment professionals.

Travers Smith advised Newco and 3i. Olswangs provided legal advice ISIS Equity Partners. Osborne Clarke advised Lloyds TSB.

Wragge & Co's private equity practice is a dedicated team of 18 lawyers delivering expert legal advice and commercial solutions to private equity and venture capital investors. The team advises on a broad range of acquisitions, investments, disposals and secondary buy-outs for leading players in the mid-market. In the last six months, it has completed a number of transactions, including advising NVM Private Equity (NVM) on the £30 million sale of Product Support Holdings Limited to Wincanton and advising Octopus Private Equity on the £16 million management buy-in buy-out of Hydrobolt Group Limited. Other clients include Close Brothers Private Equity, LDC, 3i, Electra Kingsway, Octopus Investments and ISIS Equity Partners.

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For further information about this press release, contact Kathryn Hobbs on +44 (0)121 213 2397, Alexa Highfield on +44 (0)121 213 2396 or Amie Ryalls on +44 (0)121 213 2360

This press release may contain information of general interest about current legal issues, but does not give legal advice.