WestBridge Capital has completed the sale of APEM Group, a global environmental consultancy, to Applus+ Group, a testing, inspection, and certification specialist. The transaction represents WestBridge's third exit from Fund II and delivered an impressive 11.5x multiple to investors.

WestBridge initially backed the management buyout of APEM Group in March 2019, demonstrating a successful four-year investment cycle. The deal underscores the strong performance of WestBridge's strategy in the environmental services sector and highlights the growing consolidation in testing and certification markets.

The sale to Applus+ Group positions the acquirer to expand its environmental services capabilities globally. For WestBridge, this exit adds to a track record of successful investments in industrial and manufacturing sectors, reinforcing investor confidence in the firm's ability to identify and exit high-growth opportunities.

Quick Fact: WestBridge backed the MBO of APEM Group in March 2019.