Montrose Environmental Group Acquires TriAD Environmental Consultants, Inc.

Rhea-AI Summary

Montrose Environmental Group (NYSE: MEG) announced the acquisition of TriAD Environmental Consultants, an established environmental consulting firm based in Nashville, Tennessee. This acquisition is aimed at strengthening Montrose's Assessment, Permitting & Response segment. The transaction will integrate TriAD's expertise in environmental regulatory compliance, solid waste permitting, and engineering services, which is expected to enhance Montrose's service offerings across the Southeast. Terms of the deal were not disclosed.

Positive

• Acquisition of TriAD enhances Montrose's service capabilities in environmental consulting.
• TriAD's established client relationships in the Southeast provide Montrose with potential market expansion.
• Integration of TriAD's expertise in environmental regulatory compliance strengthens Montrose's AP&R segment.

Negative

• None.

LITTLE ROCK, Ark. & NASHVILLE, Tenn.--(BUSINESS WIRE)-- Montrose Environmental Group, Inc. (“Montrose”) (NYSE: MEG) today announced the acquisition of TriAD Environmental Consultants, Inc. (“TriAD”), an environmental consulting services firm based in Tennessee with a regional client base throughout the Southeast. TriAD’s leadership team, including founders and principals Nancy Sullivan, Mark Hobbs and Dwight Hinch, will join Montrose’s Assessment, Permitting & Response (“AP&R”) segment. Terms of the transaction were not disclosed.

Offering advanced technical assistance to commercial, industrial and governmental clients, TriAD’s expertise includes solid waste permitting and compliance, environmental regulatory compliance, environmental engineering and monitoring, site assessments and remediation, stormwater management, corrective action programs and air permitting services. Founded in 1996 and headquartered in Nashville, the company has built a strong regional reputation for providing a full spectrum of environmental services with quick turnaround times to private, municipal and state clients in the Southeast.

“We are proud to attract one of the top environmental consulting firms in Nashville to our growing platform, which will help strengthen our AP&R segment,” said Joshua LeMaire, Chief Operating Officer of Montrose. “TriAD adds strong private and public relationships to Montrose’s current portfolio and will allow us to continue to expand our integration of environmental consulting services nationwide. Nancy, Mark and Dwight are exceptional and have built a first-rate team over the last 25 years. We’re honored to add such an esteemed group of environmental consulting leaders and professionals to our team.”

“We could not be more excited than to be joining Montrose,” Ms. Sullivan said. “When we started TriAD more than two decades ago, we committed ourselves to be recognized as the best environmental services consultant in Tennessee. And, with today’s historic milestone, we feel our vision has been realized. In Montrose, we have found a partner who shares our vision and will be able to expand our specialized services to a broader range of clients, as well as offer expansive new opportunities for our employees. We look forward to working together to build and expand upon our success.”

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/20220804005207/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 purpose of Montrose's acquisition of TriAD Environmental Consultants?

The acquisition aims to strengthen Montrose's Assessment, Permitting & Response segment and expand its environmental consulting services.

When was the acquisition of TriAD announced by Montrose Environmental Group?

Montrose announced the acquisition of TriAD Environmental Consultants on August 4, 2022.

What are TriAD's areas of expertise that Montrose is acquiring?

TriAD specializes in solid waste permitting, environmental regulatory compliance, engineering services, and remediation.

How will the acquisition of TriAD impact Montrose's operations?

The acquisition is expected to enhance Montrose's service offerings and client base in the Southeast market.

What is the stock symbol for Montrose Environmental Group?

The stock symbol for Montrose Environmental Group is MEG.