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- Transaction expands Montrose’s environmental services footprint with U.S. Federal government and geographic presence in Southeast
Montrose Environmental Group, Inc. (the "Company," "Montrose" or "MEG") (NYSE: MEG) today announced the acquisition of MSE Group ("MSE"), a leading provider of environmental assessment, compliance, engineering, and design services primarily to the U.S. federal government. MSE’s leadership team, including President Miyoung Squire, will join Montrose, and the business will be integrated with the Company’s Remediation and Reuse Segment. Terms of the transaction were not disclosed.
Based in Orlando, Fla., with 3 additional offices and satellite locations nationwide, MSE’s portfolio encompasses more than 160 federal and non-federal customers nationwide. In addition to supporting Fortune 500 companies around environmental, health and safety concerns, MSE has a substantial footprint in the environmental sector with the U.S. federal government, including contracts with the Department of Defense; the Army, Navy, Air Force, and Marine Corps; Army Corps of Engineers; Department of the Interior; Department of Homeland Security; airports and transit authorities; and defense contractors.
"MSE gives us a strong anchor from which to provide additional environmental services to federal customers while also strengthening and expanding our presence in the growing Southeast," said Vijay Manthripragada, President and Chief Executive Officer of Montrose Environmental Group. "With a new administration starting soon, we believe there will be opportunity for incremental upside around enforcement of current regulations, and MSE’s public sector exposure will allow us to strengthen our end-market exposure and provide additional cross-selling opportunities for Montrose. We are excited to welcome the talented professionals at MSE to our growing Montrose family."
MSE Group President Miyoung Squire commented, "In combining with Montrose, MSE will benefit from being part of a larger group with greater access to capital and a significant national presence with exceptional talent across the U.S. We are also thrilled to be joining a culture similar to our own and aligned with our vision of being the preeminent provider of environmental services and a leading employer, focused on expanding professional opportunities for our employees."
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 1,700 employees across 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.
About MSE Group
MSE Group, LLC is an environmental engineering firm providing qualified and competitive environmental, engineering, and health and safety services to public and private entities nationwide. Success for our clients, teaming partners, and employees is derived from an intense work ethic and the ability to enjoy the journey. With over 100 employees spanning offices in Orlando, Tampa, Wilmington, and San Antonio, as well as additional satellite locations nationwide, MSE stands ready to support your needs. For more information, visit https://msegroup.com/.
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.
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