Montrose Environmental Group Acquires Horizon Water and Environment, LLC

Rhea-AI Summary

Montrose Environmental Group, Inc. (NYSE: MEG) has acquired Horizon Water and Environment, LLC, enhancing its environmental consulting capabilities in California. This acquisition, Montrose's fourth in the state this year, positions the company to deepen its expertise in water resource management and ecosystem services. Horizon specializes in regulatory compliance and watershed science, making it a strategic addition to Montrose's workforce. Key leaders from Horizon, including founder Kenneth Schwarz, will join Montrose to support its mission on the West Coast.

Positive

• Acquisition of Horizon enhances expertise in water resource management.
• Fourth acquisition in California this year indicates aggressive growth strategy.
• Strengthens relationships with municipal and state agencies.

Negative

• None.

Transaction expands Montrose’s growing water resource and ecosystem offering on the West Coast

LITTLE ROCK, Ark. & OAKLAND, Calif.--(BUSINESS WIRE)-- Montrose Environmental Group, Inc. (“Montrose”) (NYSE: MEG) today announced the acquisition of Horizon Water and Environment, LLC (“Horizon”), an environmental consulting firm specializing in planning, watershed science, and environmental compliance for water and natural resource projects in California. Horizon’s leadership team, including founder and Managing Principal Kenneth Schwarz, Ph.D. will join Montrose’s Planning & Ecosystem Consulting segment. Terms of the transaction were not disclosed.

Founded in 2008 and based in Oakland, California, Horizon performs various environmental consulting services for state and local government organizations and are experts in CEQA/NEPA, environmental laws, regulatory requirements, and permitting. The addition of Horizon expands Montrose’s water resource knowledge and growing ecosystem offering in California, marking the company’s fourth acquisition this year in the state.

“Horizon is core to supporting Montrose’s consulting presence and expansion on the West Coast and deepens our water resource knowledge and relationships with municipal and state agencies,” said Jose Revuelta, Chief Strategy Officer of Montrose. “Horizon has strong talent that is very additive and complementary to our current consulting business and will allows us to expand our ecosystem service capabilities in California. We are excited to have Ken and the talented team join us in our mission.”

Kenneth Schwarz, Ph.D. founder and Managing Principal of Horizon, stated, “We are excited to partner with Montrose. In Montrose we see a firm with excellent technical capabilities and a commitment to the highest quality in products and services. We share this mission and will continue to provide high quality environmental consulting services to our clients. Montrose is also an excellent fit for us culturally as they share a commitment to using science and the best available information to wisely manage natural resources and protect the environment. We’re excited to join Montrose and to begin working with our new colleagues.”

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/20211104005039/en/

Montrose

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 recent acquisition by Montrose Environmental Group?

Montrose has acquired Horizon Water and Environment, enhancing its consulting capabilities in water resources.

How does the acquisition of Horizon affect Montrose's operations?

The acquisition strengthens Montrose's expertise in watershed science and regulatory compliance, expanding its service offerings.

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

It marks Montrose's strategic growth in California's environmental consulting market, increasing its presence and capabilities.

Who will join Montrose from Horizon after the acquisition?

Horizon’s founder, Kenneth Schwarz, and his leadership team will join Montrose's Planning & Ecosystem Consulting segment.

What are the future implications of Montrose's acquisition strategy?

The acquisition could lead to increased revenue opportunities and enhanced service offerings for municipal and state agencies.