Montrose Environmental Group Acquires AirKinetics, Inc., Expanding Emissions Testing Capabilities in the West

Rhea-AI Summary

Montrose Environmental Group (NYSE: MEG) has acquired AirKinetics, a prominent provider of emissions testing services in the Western United States. This strategic acquisition aims to enhance Montrose's capabilities in stack testing and emissions compliance, particularly in regions with stringent regulations. AirKinetics' experienced leadership, under founder Tony Wong, will integrate into Montrose's Measurement and Analysis segment. The deal's financial terms were not disclosed, but it positions Montrose to leverage combined expertise for improved service offerings across the West Coast.

Positive

• Enhances stack testing and emissions compliance capabilities on the West Coast.
• AirKinetics has nearly 30 years of experience in emissions testing.
• Strategic alignment with Montrose's existing services, expanding their regional footprint.

Negative

• None.

LITTLE ROCK, Ark. & ANAHEIM, Calif.--(BUSINESS WIRE)-- Montrose Environmental Group, Inc. (“Montrose”) (NYSE: MEG) today announced the acquisition of AirKinetics, Inc., a leader in emissions testing services in the Western United States. AirKinetics’ leadership team, including founder and president Tony Wong, will join Montrose’s Measurement and Analysis segment. The terms of the transaction were not disclosed.

AirKinetics has been a leading provider of emissions testing services to industry and government partners since 1995. The company is recognized as a top environmental testing firm in Southern California, with domain expertise in compliance and regulatory testing, CEMS testing, engineering and diagnostics testing and ambient air monitoring. AirKinetics’ expertise is primarily in California, Hawaii, Nevada, Arizona, Oklahoma, Oregon and Washington.

“The addition of AirKinetics will allow us to strengthen our stack testing and emissions capabilities on the West Coast, which is home to some of the strictest local and state regulations in the country,” said Shawn Nelezen, senior vice president of Air Quality Services at Montrose. “With nearly 30 years of experience in the emissions industry, Tony and his team understand, and have advised clients on, the multitude of air quality compliance and regulatory laws.”

“With our shared regional footprint in Southern California,” said AirKinetics’ president, Tony Wong, “we’ve known and competed against Montrose for years and have a deep respect for the talent and professionalism of the company. In joining forces, we expand our reach throughout the West and can offer clients an array of complementary services as well as innovative new air testing technologies. We look forward to leveraging our understanding of complex environmental federal, state and local laws and regulation to create a best-in-class consulting solution.”

About Montrose

Montrose is a leading environmental services company focused on supporting commercial and government organizations as they deal with the challenges of today and prepare for what’s coming tomorrow. With more than 2,500 employees across over 75 locations around the world, Montrose combines deep local knowledge with an integrated approach to design, engineering and operations, enabling the company to respond effectively and efficiently to the unique requirements of each project. From comprehensive air measurement and laboratory services to regulatory compliance, emergency response, permitting, engineering and remediation, Montrose delivers innovative and practical solutions that keep its clients on top of their immediate needs – and well ahead of the strategic curve. For more information, visit montrose-env.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as “intend,” “expect”, and “may”, and other similar expressions that predict or indicate future events or that are not statements of historical matters. Forward-looking statements are based on current information available at the time the statements are made and on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Further, many of these factors are, and may continue to be, amplified by the COVID-19 pandemic. Additional factors or events that could cause actual results to differ may also emerge from time to time, and it is not possible for the Company to predict all of them. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company’s filings with the Securities and Exchange Commission for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220906005302/en/

Investor Relations:

Rodny Nacier

(949) 988-3383

ir@montrose-env.com

Media Relations:

Doug Donsky

(646) 677-1844

Montrose@icrinc.com

Source: Montrose Environmental Group, Inc.

FAQ

What is the significance of Montrose's acquisition of AirKinetics?

The acquisition strengthens Montrose's emissions testing services, particularly in regions with strict regulations.

Who is the leadership team joining Montrose after the acquisition?

Tony Wong, founder and president of AirKinetics, and his leadership team will join Montrose.

What market sectors does AirKinetics serve?

AirKinetics provides emissions testing services to both industry and government partners.

What are the expected benefits of the acquisition for Montrose?

The acquisition is expected to provide an array of complementary services and innovative air testing technologies.

When was the acquisition of AirKinetics announced?

The acquisition was announced on the date of the press release, which is not specified in the provided text.