Montrose Environmental Group Acquires Environmental Alliance, Inc., Expanding Consulting and Engineering Services in the Mid-Atlantic

Rhea-AI Summary

Montrose Environmental Group, Inc. (NYSE: MEG) has acquired Environmental Alliance, Inc. (EAI), an environmental engineering and consulting firm based in the Mid-Atlantic. The acquisition aims to enhance Montrose's service capabilities and scale in the region. EAI, founded in 1991, specializes in environmental solutions for various industries, including real estate and oil and gas. EAI's senior team will join Montrose's Environmental Consulting & Engineering Division, which is part of its Remediation and Reuse segment. The transaction's terms were not disclosed, but the integration is expected to widen Montrose's client base and address increasingly complex environmental challenges.

Positive

• Acquisition of EAI enhances Montrose's scale and service capabilities in the Mid-Atlantic region.
• EAI brings extensive experience in environmental remediation and consulting, supporting diverse industries.
• The transaction allows for access to a larger client base and complex project engagements.

Negative

• None.

LITTLE ROCK, Ark. & WILMINGTON, Del.--(BUSINESS WIRE)-- Montrose Environmental Group, Inc. (“Montrose” or the “Company”) (NYSE: MEG) today announced the acquisition of Environmental Alliance, Inc. (“EAI”), a leading environmental engineering and consulting firm in the Mid-Atlantic. EAI’s senior team, including Vice Presidents Paul Miller, Joseph Rossi and Michael Vanderslice, will continue with Montrose and will join the Environmental Consulting & Engineering Division led by Senior Vice President Sean Rome, which reports into the Company’s Remediation and Reuse segment. Terms of the transaction were not disclosed.

Founded in Delaware in 1991, EAI is a full-service environmental engineering and consulting firm, providing high-quality, responsive, and cost-effective environmental services to public and private sector clients. The firm offers comprehensive environmental solutions to the real estate market, brownfield developers, oil and gas industry, and all industries in the environmental remediation market. EAI has completed thousands of remediation and environmental consulting projects, and maintains offices in Wilmington, Delaware; Edison, New Jersey; Glen Burnie, Maryland; and Richmond, Virginia.

“Adding EAI’s experienced environmental team increases our scale and ability to serve clients throughout the Mid-Atlantic,” said Mr. Rome. “EAI has extensive experience with all major cleanup strategies, including risk assessment and site permitting, brownfield assessment and investigation, and turnkey remediation. We are excited to join talents with such a highly regarded group.”

Bill Smith, President of Environmental Alliance, Inc., commented: “In joining Montrose’s global platform, we can tap into a larger client base and support increasingly complex environmental engagements, which often demand a multi-market approach. We are excited to begin working with our new colleagues to expand opportunities both for our business and for our employees.”

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/20230210005071/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 Environmental Alliance, Inc. (EAI)?

The acquisition enhances Montrose's capabilities and client base in the Mid-Atlantic, allowing it to tackle more complex environmental projects.

When was Environmental Alliance, Inc. (EAI) founded?

EAI was founded in 1991 and has since provided environmental engineering and consulting services.

What are the expected benefits of Montrose acquiring EAI?

The acquisition is expected to increase Montrose's service scale, enhance project offerings, and expand its market reach.

What will happen to EAI's senior team after the acquisition?

EAI's senior team will continue with Montrose and join the Environmental Consulting & Engineering Division.

What industries does EAI serve?

EAI provides environmental solutions to real estate, brownfield development, oil and gas, and various other industries.