Britain’s AEA Technology Group earlier this month divested its United States-based consulting firm Eastern Research Group (ERG) that provides services to a number of U.S. government customers including the Environmental Protection Agency, Occupational Safety and Health Administration and the Defense Department.
ERG, which is based in Massachusetts, does about $60 million in annual sales and has about 350 employees. About $10 million of the company’s business is with DoD in the area of environmental planning for facilities and bases.
The divestment of ERG was part of a sale by AEA of its primary subsidiaries through an insolvency process.
ERG was divested to its management and David Meyers, the founder of the company who sold it to AEA in 2010. Houlihan Lokey served as the financial adviser to Meyers and ERG’s management.