Montrose Environmental Group Acquires Environmental Intelligence, LLC

Rhea-AI Summary

Montrose Environmental Group, Inc. (NYSE: MEG) announced its acquisition of Environmental Intelligence, LLC (EI), an environmental consulting firm specializing in wildfire mitigation and regulatory compliance. EI, founded in 1994, offers comprehensive services across various sectors in California. The acquisition aims to enhance Montrose’s EcoServices and renewable energy capabilities in the southwestern U.S., with EI’s team, including founder David Levine, integrating into Montrose's Assessment, Permitting and Response segment. Terms of the deal were not disclosed.

Positive

• Strengthens Montrose's EcoServices and renewable energy services in the southwestern U.S.
• Enhances capabilities in wildfire mitigation and regulatory compliance.
• Integration of EI's expertise expands service offerings for major capital projects.

Negative

• None.

Montrose Environmental Group, Inc. (the “Company” or “Montrose”) (NYSE: MEG) today announced the acquisition of Environmental Intelligence, LLC (“EI”), an environmental consulting company recognized for its innovative work in wildfire mitigation, biological assessments, construction monitoring and regulatory compliance services. EI provides comprehensive environmental services in support of major capital improvement projects, including residential, oil & gas, utility, and renewable energy projects throughout California. EI’s leadership team, including Founder and Principal David Levine, will join Montrose, and the business will be integrated into the Company’s Assessment, Permitting and Response segment. Terms of the transaction were not disclosed.

Founded in 1994 and based in Laguna Beach, California, EI’s team of biologists, wetland scientists, archeologists and GIS specialists provide comprehensive natural resource consulting and regulatory compliance services and comprehensive environmental management programs for large-scale projects. EI’s environmental expertise includes wetlands and water compliance, restoration and revegetation services, and permitting under the Clean Water Act and federal and state Endangered Species Acts. Since 2014, EI has managed day-to-day environmental operations related to Southern California Edison’s Hazardous Tree Removal Project to maximize tree removals and brush clearing while avoiding impacts to sensitive biological and cultural resources within the utility’s transmission corridors located within and adjacent to the Angeles, Inyo, Los Padres, San Bernardino, Sequoia, and Sierra National Forests.

“David and his team have an exceptional reputation in natural resource consulting, which will help to expand our EcoServices capabilities as well as strengthen our renewables energy services in the southwestern United States,” said Josh LeMaire, Chief Operating Officer of Montrose. “We see a unique opportunity in pairing EI’s pioneering work in wildfire mitigation and geospatial innovations with Montrose’s disaster response services, to offer clients a comprehensive environmental services solution for crisis preparedness and compliance. The addition of EI to the Montrose platform will also strengthen our exposure to renewable energy projects throughout Southern California. We are thrilled to welcome David’s talented team to our growing Montrose community.”

EI Founder and Principal David Levine commented, “We are excited to join a well-capitalized, growth focused company such as Montrose that is committed to environmental stewardship and technological innovations while supporting clients in their most challenging projects. Montrose is an excellent cultural fit, and our employees will be able to apply their experience and talents to an increasing number of new clients. We’re excited to take things to the next level.”

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 2000 employees across over 70 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 www.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/20210706005207/en/

FAQ

What is the purpose of Montrose's acquisition of Environmental Intelligence (EI)?

The acquisition aims to enhance Montrose's EcoServices and renewable energy capabilities, particularly in wildfire mitigation and regulatory compliance.

When was Montrose's acquisition of EI announced?

The acquisition was announced today, though the specific date is not mentioned.

How will the acquisition of EI impact Montrose's services?

The acquisition will expand Montrose's service offerings in environmental consulting, specifically for major capital improvement projects in California.

Who will lead the team at Montrose following the acquisition of EI?

David Levine, the founder of EI, along with his leadership team, will join Montrose after the acquisition.

What sectors does Environmental Intelligence serve?

EI provides environmental consulting services across residential, oil & gas, utility, and renewable energy sectors throughout California.