Montrose Acquires Environmental Chemistry For Undisclosed Sum
Montrose Environmental Group Inc (NYSE: MEG) has acquired Environmental Chemistry, Inc. (ECI), a full-service environmental laboratory serving the Texas and Louisiana gulf coast region. The terms of the transaction were not disclosed.
Houston, Texas-based ECI provides a full suite of environmental laboratory analytical services to industrial, governmental, engineering, and consulting clients in the Gulf region.
ECI's business will be integrated into the company's Measurement and Analysis Segment and will operate as part of Enthalpy Analytical, LLC, a subsidiary of Montrose
ECI's leadership team, including CEO Deanna Jean Zeck and President Nan Thorney, will join Montrose.
Montrose held cash and equivalents of .19 million as of June 30, 2021.
"ECI further strengthens our testing and analytical services in the gulf coast region, adding water and soil capabilities to Enthalpy's current Gulf Coast air capabilities and provides additional analytical support to our CTEH operations," said Jose Revuelta, Chief Strategy Officer of Montrose.
Price Action: MEG shares are trading higher by 3.69% at $63.47 on the last check Monday.
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