Verisk to buy privately held 3E for $110 million

(BestGrowthStock) – Verisk Analytics Inc (VRSK.O: ), part-owned by Warren Buffett’s Berkshire Hathaway (BRKa.N: ), said it will buy environmental health and safety firm 3E for $110 million, its second acquisition this month.

The insurance risk specialist expects the deal to be neutral to adjusted earnings in 2011.

Verisk said it will use cash on hand and funds from a revolving facility to finance the deal, expected to close in December.

The company — which bought Medicare compliance firm, Crowe Paradis Services Corp, for $90 million earlier this month — had about $107 million in cash as of Sept 30.

3E provides services that help companies comply with environmental health and safety needs relating to workplace and has more than 5,000 customers worldwide.

Shares of New Jersey-based Verisk, which have risen more than 9 percent in value since the company posted third-quarter profit (Read more your timing to make a profit.) above Wall Street view in November, closed at $31.92 on Monday on Nasdaq.

(Reporting by Archana Shankar in Bangalore; Editing by Jarshad Kakkrakandy)

Verisk to buy privately held 3E for $110 million